Apr. 02, 2014
Low-Interest Loans Now Available for Upgrades to Refrigerated Air Conditioning
Albuquerque: New Cool Comfort Loans are available this spring and summer to PNM customers interested in installing refrigerated air conditioning.
"Recent surveys of our customers indicated that many are interested in switching from evaporative cooling to refrigerated air," said Jo Ann Newton, PNM executive director of Marketing and Communication. "For those planning to make this switch, we've worked with local financial institutions to make it easier to obtain low-interest financing."
Customers can learn more about participating credit unions and banks at PNM.com/comfort. For those purchasing high efficiency units, PNM also has energy efficiency rebates available. Information on cooling rebate programs can be found at PNM.com/coolrebate.
"Our Cool Comfort Loan has a special low rate and extended terms so you can invest in your home without blowing your budget," said Dave Weidauer, senior vice president of service delivery for New Mexico Educators Federal Credit Union.
"Kirtland Federal Credit Union supports PNM and its Cool Comfort Loan program and we are offering our members special incentives to participate," said David R. Seely, president and CEO of Kirtland Federal Credit Union. "Members who want to escape the summer heat with a new central air conditioning system can apply for a loan and benefit from significant savings, lower water bills, cleaner air in their home and the added security that comes from being able to close windows at night without sacrificing comfort."
If the customer is switching from evaporative cooling to refrigerated air, the move has the advantage of saving an estimated 2,800 gallons or more of water for the summer season. This includes water to generate electricity.
While refrigerated air conditioning has benefits ¿ including enhanced indoor air quality and improved home resale value ¿ PNM wants customers to know that refrigerated air conditioners do use more electricity than evaporative cooling units. Customers can lessen the impact of switching on their electric bill by buying a more efficient unit using a programmable thermostat, among others. A calculator table that identifies what you can expect in energy use change is available at PNM.com/comfort.
For information on the Cool Comfort Loans, customers should contact one of the participating financial institutions. Participating contractors are also listed at PNM.com/comfort. The loans require a good credit rating, and the air conditioner must be installed by a certified HVAC contractor.
With headquarters in Albuquerque, PNM is the largest electricity provider in New Mexico, serving 500,000 customers in dozens of communities across the state. PNM is a subsidiary of PNM Resources, an energy holding company also headquartered in Albuquerque. For more information, visit PNM.com.