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Government Incentives

Incentives for conserving in comfort

Valley Energy can help you identify incentives that may make home improvements more affordable. We can also provide you with assistance in navigating through your options. Following are a few incentive programs that were available or in the news as of mid-2012.

Connecticut Energy Efficiency Fund for residents

Through the Home Energy Solutions (HES) program of the Connecticut Energy Efficiency Fund, trained specialists conduct a home energy assessment, perform on-the-spot enhancements, and offer rebates on insulation, HVAC systems and appliances. The objective is to provide better energy efficiency for homes, thus eventually saving on energy costs. Connecticut residents can also apply for other benefits such as improvement or replacement of heating and cooling systems, quality insulation, and a reduction in upfront cost through rebates provided by the Energy Efficiency Fund. All HES customers can find rebates and incentives for numerous appliances on the Fund’s website, but some of these rebates are available for a limited time only. More information can be found on www.ctenergyinfo.com or by calling 877-947-3873.

Connecticut Energy Efficiency Fund for businesses

Geared towards larger companies who have been in business for at least three years and enjoy good credit standing, loans are available to help offset the costs of installing energy-efficient equipment that is not covered by Energy Efficiency Fund incentives. Companies planning to incorporate two or more energy-saving measures affecting more than one end use may qualify for an attractively low 2.99% interest rate. Other projects, affecting a single end use, may qualify for a 4.99% interest rate. Loan limits are $2,000 minimum to $1 million, with the subsidized low-percent interest financing offered on the first $100,000 of the loan. Financing is available for a maximum loan term of 60 months, and terms may be rounded up a year to create a cash-positive scenario up to the maximum loan term. More information can be found on www.ctenergyinfo.com or by calling 877-947-3873.

Incentives for energy-related improvements

Your Valley contractor may be able to tell you about various incentives for energy-related home improvements. For example, you might qualify for Connecticut’s Weatherization Assistance Program, which helps low-income families make their homes more energy-efficient. Homeowners and renters are eligible to apply for services, which average almost $3,000 in material and labor/support costs per living unit. These services are free of charge to eligible applicants. In the case of renters, landlords are asked to contribute 20% of the material cost, from $30 to a maximum of $250 per eligible living unit.

Clean Energy Finance and Investment Authority (CEFIA)

As Connecticut’s “green bank”, CEFIA’s goal is transitioning the state’s clean energy programs away from grants, rebates and other subsidies toward low-cost financing of energy efficiency and renewable energy. CEFIA uses $8.25 million of federal economic stimulus funds to support two residential clean energy financing programs. The two programs will use innovative financing, investment and insurance products to support residential use of clean energy, including solar photovoltaic systems, solar thermal systems, and energy efficiency measures. Updates on this program can be found at www.ctcleanenergy.com.

More state and federal incentives

(all subject to Valley Energy’s terms and conditions)

CHIF Energy Conservation loan program for home improvements

Connecticut residents

ECL Energy Conservation Loans available for single-family homes; tiered based on income per family and improvement type

low-interest financing

CHIF Residential Energy Efficiency  Finance Program (HES)

HES only UI/CLP ratepayers (all fuels CL&P, electric/gas only UI); Clark, Wilson, Bartone, Porter, Vinal

loans for HVAC replacement, single-pane window replacement, insulation, domestic hot water systems, ductless heat pumps

$2,500-$20,000, 2.99% up to market rate financing dependent on product/fuel type; $1,000-$2,500 insulation-only 0% loans available through December 31, 2012

CEFIA Connecticut Solar Lease

Connecticut residents

expected performance-based incentive and performance-based incentive (leasing)

up to 10 KW systems; RECs returned to resident for power returned to grid

Clean Energy Options

Connecticut residents, energy supplier companies

options to purchase renewable energy

clean- supplied energy

Home Performance with Energy Star

UI/CLP ratepayers all fuels; Bugbee, Kelly

increased envelope services through application with Home Performance with Energy Star contractor

proposal/application needed for measures

Multi-Family Options

UI/CLP ratepayers; all fuels; Marge Kelly

custom services provided after sampling and evaluation of the property.

custom services per job

Federal Tax Incentives

taxpaying U.S. residents

tax incentive  for replacement or installation of energy saving products

dependent on energy-efficient measure: geothermal, solar, wind

FST

UI/CLP ratepayers; all fuels; Clark, Bartone

comprehensive electronic energy report providing customer with most cost efficient measures to pursue

customer may pursue improved energy savings beyond HES core services