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In collaboration with Habitat for Humanity, Fannie Mae, and energy providers, Nest announced the launch of The Power Project, an initiative to increase access for low-income households to affordable energy-saving products.
“Too often, the people who would benefit most from energy upgrades are least able to afford them,” Jonathan Reckford, CEO of Habitat for Humanity International, said in a release. Nest has pledged to install one million of its thermostats in qualifying low- and middle-income homes over the next five years; four thousand of Nest's thermostats will go to Habitat for Humanity, Fortune reports. Thermostats will also go to those enrolled in Fannie Mae's low- to moderate-income mortgage program.
Low-income households spend three times more of their income than the United States average to heat and cool their homes, according to a release from Nest. The U.S. average has about 3.5 percent of total income going toward energy bills, though one in five families can actually spend up to 20 to 50 percent of their income on utilities.
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