Home Performance with Energy Star Loans

Summary

The program offers several different incentive paths to qualifying homeowners. The standard measures path offers rebates for specific energy efficiency measures such as home insulation, windows, doors, air sealing, and water heaters. The performance measure path offers progressively increasing incentives based on the level of energy consumption reduction, starting with a minimum energy consumption reduction of 20%. The high introductory performance rebate levels currently offered are scheduled to expire March 31, 2012. Prescriptive incentives are also available for heating and cooling measures.

Unsecured loans ranging from $1,000 - $20,000 with terms of up to 10 years are now available to finance up to 100% of the remaining costs of improvements. Interest rates are set at 3.99% for performance measure path improvements and 6.99% for standard measure path improvements. Renewable energy projects may also be financed through the program as long as the participant finances at least $500 worth of other qualifying improvements. All renewable energy measures must meet the eligibility standards of the Delaware Green Energy Incentives programs.* Energy savings associated with renewable energy installations is not included in the calculation of savings for Performance Path measures.

The first step to participating in the program is to have an energy audit performed by a program-approved contractor. Based on the results of the energy audit, the contractor will provide the homeowner with a series of energy savings recommendations, but it is up to the homeowner to decide which upgrades they would like completed.** The contractor then completes the selected improvements and submits a completed final application for incentives on behalf of the homeowner. If improvements totaling more than $500 are made within 6 months of the energy audit, the homeowner also qualifies for a rebate of $250 against the cost of the energy audit. The program will only provide incentives for improvements made on or after August 18, 2010.

Please see the program web site or contact an SEU representative for further program information. The Delaware SEU is a non-profit organization created by the state of Delaware to foster a sustainable energy future for the state through conservation, efficiencies and the use of renewable energy sources.

*The list of eligible renewable energy technologies corresponds to those eligible for Green Energy Program incentives.

**The list of eligible energy efficiency improvements above is a list of possible improvements that may be identified in the required energy audit. In practice, eligible improvements are "custom" in nature, and depend on the results of the energy audit and the wishes of the homeowner.