Energy efficient
retrofitting can help to save money and reduce waste in older buildings.
The State of Michigan and the Federal Government offer numerous grants to encourage owners of older buildings to increase their efficiency and utilize renewable energy technologies. These grants offer additional benefits, including putting people to work installing the improvements and reducing strain on aging energy grids. Grants are available for municipalities and individual homeowners. Does this Spark an idea?
Low Income Energy Efficiency Fund
The Michigan Public Service Commission was empowered to provide grants to low income residents and organizations that serve such populations through the Customer Choice and Electricity Reliability Act of 2000. The Fund is required to spend three-fourths of its budget on promoting energy efficiency projects among lower income populations and, to a lesser extent, to provide emergency funds to prevent energy shut-offs for target populations. The remaining one fourth is to be spent on energy efficiency projects for all populations, regardless of socioeconomic conditions.
Michigan Energy Efficient Home Improvement Tax Credit
Beginning in 2009, Michigan homeowners who purchase EPA Energy Star-rated technology, such as washers, dryers, refrigerators and furnaces are eligible for a personal tax credit of up to 10% of the installed cost of the improvement. Eligible homeowners are income-restricted: a single filer can make no more than $37,500 and a couple no more than $75,000. Credits are also limited to primary residences.
U.S. Department of Energy Weatherization Program
The 2009 Recovery Act funded the Weatherization Block Grant program, providing grants to U.S. cities, counties, and states with money to develop, implement and manage energy efficiency and conservation programs. The goal of this program is to help meet federal goals to reduce reliance on fossil fuels. Grants can be used for community-wide programs to promote weatherization, increase use of renewable energy resources and to retrofit governmental buildings to be more efficient.
Energy Efficient Mortgage Program
Though not a true "grant," the U.S. Department of Housing and Urban Development (HUD) Federal Housing Administration (FHA) Energy Efficient Mortgage Program provides added money to homeowners or homebuyers to add energy efficiency features to their home. The program works by helping to reduce the monthly utility payments a homeowner must make, thereby allowing them room to pay a slightly increased mortgage (which includes the cost of the added energy efficient technology's installation). The guidelines governing the types of improvements that can be made and their cost are complex, but the program is open to new and existing home buyers to use the program to modify their existing FHA-backed mortgage to make their home more efficient.
Tags: energy efficiency, Energy Efficient, efficiency projects, Efficient Mortgage, Efficient Mortgage Program, energy efficiency projects
