NJ Loan Program: Home Performance with Energy Star 2011-2012 Promotion
If you're a homeowner and are feeling the economic crunch, like most of us are, there are smart loan programs available that can not only help you upgrade your home at an affordable cost, but can provide valuable capital to allow you to make energy-efficient up-grades: the ones that keep saving you money year in and year out.
The Home Performance with Energy Star (HPwES) plan is just one NJ loan program. It offers "whole house" solutions to reduce both your energy costs and carbon footprint. In addition, installing energy efficient upgrades through the Home Protection Energy Star Program in your home can save up to 30% on energy costs and increase the comfort, safety, and durability of your home.
How The HPwES NJ Loan Program Works
New Jersey homeowners have until December 31, 2011 to receive up to $5,000 in financial incentives. That is up to $1,000 more than previous offers. In addition, homeowners may also qualify for 0% interest financing (up to $10,000) when they have energy-efficient upgrades performed on their home.
The following table will detail the particulars of this unique NJ loan program. The incentives are based on the estimated total energy savings that will result from your proposed upgrades, which a qualified contractor will determine for you.
| TOTAL ENERGY SAVINGS | INCENTIVE* | ADDITIONAL FALL DISCOUNT** |
|---|---|---|
| 10-19.99% | Up to $1,000 | $500 |
| 20-24.99% | Up to $3,000 | $750 |
| 25%+ | Up to $4,000 | $1,000 |
*Incentive not to exceed 50% of the total project cost of the eligible measures.
**Projects with enrollments from October 1, 2011 through December 1, 2011 are eligible for the Fall Promotion Discounts. Projects must be enrolled in the Home Performance NJ loan program no later than December 31, 2011 to qualify for the Fall Promotion.
NJ Loan Program: What's the First Step?
The first step in utilizing this unique and beneficial NJ loan program is to schedule a trained and certified technician to conduct an assessment of your home from top to bottom. To schedule your home assessment (or home energy audit), contact one of the participating, certified contractors located on the HPwES web site. The technician will take inventory and report on the current conditions. After the assessment, you will receive a report listing recommended measures, along with financial incentives available to help pay for the recommended improvement work. In general, you should contract several contractors before selecting one to perform the work. If there any specific questions regarding this process or this type of NJ loan program, you can always call 866-NJSMART.