There are great programs available to help landlords take a comprehensive look at energy savings opportunities. Cutting energy costs by 70% is not unheard of. Energy modeling allows quantification and prioritization of improvements BEFORE the work is done, removing guesswork.
FREE IMPROVEMENTS – EMPOWER
EMPOWER is a weatherization program for NY residents whose household income is below 60% of median family income. Most of the work done through EMPOWER is FREE.
I utilized EMPOWER for one of my rental properties and the tenants received an energy star refrigerator, all the doors had weatherstripping replaced, penetrations and rim joist in the basement were spray foamed, duct work was sealed, and insulation was added to the attic.
(Click here for 80% Assisted Income Guidelines and multiply by .75 to arrive at 60% median income cut off.)
MORE EMPOWER INFO HERE
$5,000 Grants – Home Performance with Energy Star
At 80% of the median family income (Assisted Income Guidelines) the incentive is $5,000 on a $10,000 worth of improvements for one unit. If credit worthy the remaining $5,000 can be financed over 10 years for $55.50 per month (5.99%).
If you qualify for the grant program and the loan program, usually your energy bill goes down by more than your loan payment. This means money you were sending to the utility company is paying for substantial improvements to your home.
You are spending the money anyway, why not have it go to improving the comfort, value, and efficiency of your home?
$10,000 GRANTS – Home Performance with Energy Star
A maximum subsidy of $10,000 on $20,000 of improvements for 2-4 family houses!
Here are some handy links to paperwork.
Customer Information Form
Assisted Income Guidelines
Assisted HPwES Application
Credit Application
Owner Tenant Agreement
Click HERE to see a list of BPI Accredited Contractors near you.
All consumers who contribute through their electric bill to the SBC/RPS charge are eligible for Home Performance with Energy Star incentives. The minimum incentive for participating in the Home Performance with Energy Star process is 10% rebate to a maximum rebate of $3,000 (or low interest financing if credit worthy).
These incentives increase as homeowner or tenant income goes down.
Things to Consider
The energy modeling and improvement work must be performed by BPI accredited contractors. This gives the program a tight quality control mechanism. Sound like a lot of work for the contractor? HPwES has nice incentives for contractor participation. Again, it’s a really great program, funded by small fee in our electric bills.
It’s a true win/win/win. The homeowner gets a better result and receives an incentive, the contractor gets to do better work and receives an incentive, and the State reduces the energy demand and improves the value of its housing stock.
Beyond understanding current building science including common good and bad practices the contractors have a significant investment “at risk” if they don’t do work to this higher standard.
Contractors do get their accreditation pulled – which means they are out of the program and potentially out of business.
Still Have Questions?
I would love to answer them, e-mail me at: homeenergyvisit@gmail.com or call (585) 466-4NRG, that’s (585) 466-4674. Call me any time – 24 hours a day.
