Time energy-savings projects to use new efficiency incentives
July 23, 2020 | By Duncan McDougall
One key weatherization improvement homeowners can make to save energy is to add more insulation to crawl spaces, walls and attics. Technicians can easily blow insulation into tight spaces. Photo by Brad Cook, Building Performance Services.
Waterbury LEAP (Local Energy Action Partnership) is Waterbury’s all-volunteer town energy committee with a mission to promote energy efficiency, renewable energy and emissions reduction. This is the first in the series by LEAP volunteers to share with Waterbury Roundabout readers information on ways local residents can save energy, reduce their fuel bills, and shrink their emissions.
Unusually high energy-efficiency incentives this summer
Efficiency Vermont is Vermont’s statewide energy efficiency utility. This summer, the organization is offering what might be its highest incentives ever to help Vermonters reduce their home energy costs, make their homes healthier and more resilient into the future, and encourage investments that support the local economy.
The new offers are part of Efficiency Vermont’s response to the economic downturn brought on by COVID-19. (Similar incentives are being offered by Vermont Gas Systems and Burlington Electric Department.) These offers increase customers’ access to capital, help them avoid out-of-pocket expenses, and deliver substantial energy savings that put money back in their pockets. They target the hardest-hit customers including low- and moderate-income Vermonters.
Up to $5,500 for weatherization
Available only until Aug. 31 or until funds run out, Vermonters who qualify as moderate income (below 120% of median household income) can work with an Efficiency Excellence Network contractor to weatherize their home, including sealing air leaks and insulating basements and attics.
The new incentive will cover 75% of the project cost, up to $5,500. Higher-income customers will receive incentives of 50% off the project cost up to $2,000, and below market-rate financing.
Six months paid for on home energy projects
Through the recently enhanced Home Energy Loan program, Efficiency Vermont will also make the first six months of payments for customers (or up to $900), for loans applied for before October 31, 2020. That means most Vermonters can now complete a comprehensive weatherization project for around $40 a month, with the first six months of payments waived.
Save money at your business
If you’re looking for a way to save at your business, you can now sign up for a free virtual business energy consultation through Efficiency Vermont. An efficiency expert will talk through the low-hanging fruit to save on energy bills and connect you with incentives and offers that will bring down the upfront cost of efficiency improvements.
Efficiency Vermont is also offering payment deferrals for up to four months for its Business Energy Loan. Interest rates from 3.5-5.5% are available on loan amounts of up to $50,000 with as little as $50 down payment.
By deferring payments, businesses can generate energy savings that go right to their bottom lines for four months, and loans can often be structured so that payments are covered by the monthly energy savings going forward.
Supporting the local workforce
By investing in energy efficiency now, you can save on your energy bills and help support the local economy. Many of these trade partners were hard hit by the economic shutdown. Investing in efficiency will help them get back to work and strengthen Vermont's economy going forward. You can find a contractor using Efficiency Vermont’s Efficiency Excellence Network.
You can follow these links to learn more about Waterbury LEAP, to join the team of LEAP volunteers, or to read about a variety of green energy topics.
Duncan McDougall is chair of Waterbury LEAP (Local Energy Action Partnership), a nonprofit organization that’s also Waterbury’s volunteer energy committee.