75% of home weatherization projects covered, boosting resilience during Covid-caused recession
As Vermonters cope with an economic recession, Efficiency Vermont and partners announced a raft of higher-than-ever incentives 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.
Efficiency Vermont made changes to prioritize offers that increase customers’ access to capital, help them avoid out-of-pocket expenses, and deliver substantial energy savings that put money back in their pockets. Program changes target the hardest hit customer segments, including low- and moderate-income Vermonters.
“Energy efficiency is a powerful way for customers to invest in themselves and the local economy. Efficiency projects make homes healthier and lower monthly energy costs for years to come,” said Efficiency Vermont Director Rebecca Foster. “Spending money on anything right now feels scary, but with the highest incentive we’ve ever offered for weatherization, and with the first six payments covered on a no-interest loan, now is the best time for Vermonters to make this investment and help local contractors get back to work.”
75% of weatherization project cost
Starting July 1 and 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 their basements and attics. The new incentive will cover 75% of the project cost, up to $5,500.
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). That means most Vermonters can now complete a comprehensive weatherization project for around $40 a month, with the first six months of payments waived.
While energy savings resulting from home weatherization projects can vary greatly from one home to another, most customers can expect to save hundreds of dollars a year on heating and cooling costs. In addition, weatherization projects performed by qualified contractors can improve the indoor air quality of a home, making living spaces healthier and more comfortable.
Higher-income customers will receive incentives of 50% off a project cost, up to $2,000, and favorable financing.
Equipment rebates for healthier homes
Low- and moderate-income Vermonters can also receive $50 back on qualifying efficient products that support healthier, more resilient homes. The rebate is available for purchases made before Aug. 31. Qualifying appliances include Energy Star® certified:
Window air conditioning units
Dehumidifiers
Air purifiers
Freezers
Indoor grow lights (DLC-certified)
For more information visit efficiencyvermont.com.
