EnergyRealist

Here is the news on the NJ “Home Performance with Energy Star” program.

The good news – it is starting again.  Not so good – there will be limited funding and I expect there will be a rush to get applications in at the beginning of each funding cycle.

From the site: “Per the Board Order dated June 21, 2010, the Home Performance with ENERGY STAR program will develop funding cycles to ensure sufficient funds are available until the end of the year.  Funding cycles’ implementation dates and their respective amounts will be published on this website by July 21, 2010 or sooner.  The first funding cycle will open no later than 7 days after the posting.  Effective on the opening date of the funding cycle, contractors will be limited to submitting no more than five projects per business day.

Additional changes to the program are detailed below:

• For projects with estimated total energy savings between 5% and 25%, maximum cash rebate will be reduced from $2,000 to $1,300 or low interest loan at 5.99%.
• For projects with estimated total energy savings of 25% or more, maximum cash rebate will be reduced from $5,000 to $3,000 and a 0% interest loan.

Incentive levels for projects submitted on or before May 7th that have been deemed complete are eligible for incentive levels available at the time the projects were submitted.

Submitted projects pending loan documents will be granted a grace period of 30 days from the received date.”