Handle energy efficient upgrades for your home can Reduce, increase monthly electricity bills the value of your property and decrease Your impact on the Colorado environment. To make this a reality, you should apply for a Home loan. While many homeowners believe that the only qualifying project for this type of loan is this Solar collector installation, that is not true! There are lots Eco-friendly projects a home loan can fund, from heating and cooling to windows and doors. Use this list to inspire your next remodeling adventure.
- 1 What is a home loan?
- 2 Which projects qualify for a home loan?
- 3 How do I get started on a home loan?
What is a home loan?
As a homeowner, you can apply for a loan to make your home more energy efficient through updates. Home loans aren’t just intended for massive home equity projects. The minimum amount that Elevations will fund for a home loan is $ 500. This could be the perfect amount to start tackling the weekend project that’s still on your to-do list!
Which projects qualify for a home loan?
We encourage you to grab a notebook and take a walk around your home. Review the items in the list below and determine if your systems are worn out, outdated, or in need of an upgrade to be more efficient and put less strain on the grid here in the Front Range. Also, consider visiting the government ENERGY STAR Visit this website to learn how to save energy and get discounts and tax credits for energy efficiency updates in residential buildings.
At Elevations, we partner with Efficiency Works ™, an energy-focused partnership between Estes Park Power & Communications, Fort Collins Utilities, Longmont Power & Communications, Loveland Water and Power and Platte River Power Authority. B.Between 2015 and 2019 the organization saved 123,058 MWh. That corresponds to the energy consumption of 11,500 households in our house Communities!
When it comes to the gadgets we rely on every day, update them before they break – we all know going without a refrigerator or washing machine is no fun. An Energy Loan from Elevations can be used to purchase ENERGY STAR appliances such as refrigerators, washers, dryers, dishwashers, and freezers.
For example, the average lifespan of a refrigerator is 10 years. When your age is old, use ENERGY STAR’s Flip Your Fridge Calculator to determine how much your current refrigerator costs to run and how much carbon it emits. This calculator can help you decide to buy a new model that is more budget conscious and environmentally friendly.
Energy analysis & monitoring
New to home ownership? You can use a home energy audit to learn What updates can you make to your home to be more energy efficient? A local contractor in your area can conduct a home energy audit.
You can also install home monitoring devices that give you feedback on your electricity consumption, such as: B. an intelligent, programmable thermostat. A smart thermostat allows you to automate the temperature of your home, including energy-saving changes like turning the stove down a few degrees when you are asleep or not at home.
Insulation & airtightness
Reducing energy costs starts with keeping your heating and cooling in your home. By evaluating and freshening up the insulation of the walls, floors, foundations and attics of your home, as well as the seals around your doors (don’t forget the garage door, too!) And plumbing, you can lower and stabilize energy costs.
The Environmental Protection Agency (EPA) estimates that doing insulation and airtighting jobs around your home can save you an average of 15% on heating and cooling costs. That means that an expense would drop from the current USD 200 per month to USD 170!
Light bulbs burn energy. The types of lightbulbs you use in your home will affect your electricity bills and contribute to greenhouse gas emissions. Consider upgrading to ENERGY STAR qualified light bulbs and lights that use up to 90% less energy. As a bonus, these lamps last 15 times longer than other lamps.
When evaluating your lighting, make a list of lamp requirements for lamps, ceiling fans, ceiling lighting, outdoor lighting, and built-ins, such as: B. Lighting under the cupboard in the kitchen or lamps hidden in a shower cubicle.
Solar PV & solar thermal
We know it can cost some green to go green. Options like the Colorado RENU loan can fund up to $ 50,000 for home energy efficiency improvements such as photovoltaic solar panels (PV) that convert solar energy into electricity.
You can also consider a residential solar thermal system that provides hot water (heated by the sun) as energy to heat your home.
Space heating & cooling
A home loan can also upgrade some of the critical systems in your home, including ENERGY STAR stoves, boilers, evaporative coolers (whole house, wall and windows), and central air units.
These devices are among the most expensive in your household. Ovens and central air units cost between $ 5,000 and $ 10,000. For many homeowners, a home loan makes replacing broken or irreparable systems financially feasible.
Speaking of large appliances, your water heater is just right with your HVAC system. With a home energy loan, you can purchase a new traditional ENERGY STAR rated storage tank, or a tankless tankless water heater and heat pump.
If you run out of hot water during morning showers or your household grows, upgrading to a larger water heater or one that circulates hot water faster can add extra convenience to your home.
Windows, doors & skylights
Eventually, you may find that updating the seals on your doors isn’t enough to reduce drafts. Do you feel a light breeze near your windows and doors? Then it’s time to buy replacements.
You can use a home energy loan to purchase ENERGY STAR windows and exterior doors. If you have a historic home, be sure to mention this in your application as certain types of windows in the program require pre-approval.
How do I get started on a home loan?
Elevations’ home energy loans are available to homeowners in Boulder County through EnergySmart, in Fort Collins through Efficiency Works ™, and nationwide through the Colorado RENU Loan.
For more information, contact an energy advisor at 303.544.1000 (EnergySmart in Boulder County) or 877.981.1888 (Efficiency Works ™ in Fort Collins). Outside of these areas, you can find participating contractors on the RENU website.
Your energy advisor will help you identify available discounts and financial incentives and connect you with a participating contractor. Learn more about Elevations Energy Loans and get more resources here.