Rebates & Incentives
Government & Utility Incentives Targeting Energy Efficiency
Taking advantage of government energy efficiency initiatives, including PACE financing and the SAVE Act, is a great way to gain added payback for your retrofit project. Both programs focus on air sealing and do require a home audit, but provide the homeowner with many financial benefits.
Property-Assessed Clean Energy (PACE) Financing
- Provides secured, local municipality financing for solar and energy efficiency projects
- Removes many financial hurdles:
- Little or no upfront cost to the property owner
- Payments fixed for 20 years
- Customer chooses contractor/installer
- Property tax transfers to the new owner when the property is sold
- Utility bills decrease due to energy savings
- Credit analysis is on the property, not the person
- By 2012, 27 states and D.C. have adopted PACE enabling legislation
Visit http://www.pacenow.org for more information.
The SAVE Act – Sensible Accounting to Value Energy
- Proposed federal legislation that would instruct federal loan agencies to assess a borrower’s expected energy costs when financing a house
- Better information about a homeowner’s monthly expenses is expected to:
- Enable better mortgage underwriting
- Reduce utility bills for American homeowners
- Provide affordable financing for home energy improvements
- Spark job creation in the housing industry
- The rating system is often described as similar to miles per gallon on vehicles, but for the home
Visit http://www.govtrack.us/congress/bills/112/s1737 for more information
Government and Utility Incentives
Many utility companies also provide policies and incentives that encourage retrofitting homes with energy efficiency and renewable energy upgrades. Check with your local energy provider for more details, or visit http://www.DSIREUSA.org to see a comprehensive list.
As just one example, Consumers Energy, the mid-Michigan energy service that supplies electricity and gas to the Revitalize Home, offers total rebates of up to $5,000 when energy efficiency improvements and upgrades are made.
Learn more at http://www.consumersenergy.com.
More information on Rebates is available in downloadable format.