Clean Gas, a local propane supplier in the Cayman Islands, has announced the launch of the innovative Home Efficiency Loan Program (HELP) designed to combat rising living costs while simultaneously reducing household emissions.
This new program aims to assist homeowners in switching to propane appliances that help reduce energy costs by up to 40% by offering affordable loans through participating local banks including Butterfield, Cayman National, CIBC First Caribbean, Cayman Islands Development Bank and Scotiabank.
Clean Gas has additionally developed a cost savings digital calculator, accessible on their website, which demonstrates the prospective monthly savings achievable by individuals, taking into account present monthly energy costs compared to propane powered appliances such as water heaters, dryers and oven ranges.
The homeowner can calculate the potential savings by inserting their pertinent information in the digital calculator, each appliance the consumer chooses to convert results in a monthly cost savings, with the choice to replace all three appliances for a monthly savings of up to 40%.
“In light of the media statement from the Premier’s office regarding high interest rates, we are proud to put forth this program where the participating banks offer flexible repayment terms and competitive interest rates, ensuring affordability and accessibility for homeowners of varying financial backgrounds,” says Mr Randy Merren, Managing Director of Clean Gas.
Those looking to make the switch, a Clean Gas propane specialist will come to their home to conduct a free assessment of their appliances and provide them with a propane conversion estimate to present to the chosen participating bank.
Upon bank loan approval, homeowners will work with Clean Gas to have their chosen propane appliances installed in their home.
By collaborating with financial institutions, the Home Efficiency Loan Program combines the expertise of Clean Gas in propane solutions with the banking sector’s lending capabilities, enabling a streamlined process for homeowners interested in making the switch.
“Clean Gas recognizes the increasing financial burdens faced by homeowners in the Cayman Islands,” says Lloyd Pope, Operations Manager at Clean Gas.
“With the rising costs of electricity and other energy sources, many families find it challenging to manage their monthly expenses. The Home Efficiency Loan Program addresses this issue head-on, providing a practical and sustainable solution to reduce energy costs by up to 40%.”
In addition to financial benefits, the Home Efficiency Loan Program contributes to environmental sustainability.
Propane appliances produce fewer greenhouse gas emissions compared to traditional energy sources, making them an eco-friendly choice for homeowners concerned about environmental impact.
“Butterfield is pleased to partner with Clean Gas on this campaign because HELP aligns nicely with our Green Loan program. Reducing our carbon footprint is a strategic priority at Butterfield and we have multiple flexible financing options to help clients achieve their ‘green’ goals,” says Amanda Bodden, Head of Retail Banking at Butterfield.
“HELP allows homeowners to reduce their energy usage and ensure that their homes are operating as efficiently as possible,” Ms Bodden adds.
Through this program, Clean Gas hopes to foster a more sustainable future for the Cayman Islands.
Clean Gas invites homeowners in the Cayman Islands to take advantage of the Home Efficiency Loan Program and embrace a more efficient and sustainable lifestyle. To learn more about the program, please visit www.cleangas.ky/home-efficiency-loan-program/ or call 233-4427 to speak with a Clean Gas representative.