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One of the most common hurdles in taking the Whole House Approach to Energy Savings is that the customer just doesn't have the cash on hand to implement a whole house scope of work. That's why an innovative approach to financing this work is so important. New Buffalo Impact has years of experience in putting together financing from various sources to get the job done - a job that in other hands might never get done.
We have financial packaging options available for homeowners of every income level, even including those who fall below the federal poverty lines. Some of these options include:
2011 Tax Credit for Energy-Efficiency Home Improvements
A tax credit can provide significant savings. It reduces the amount of income tax you have to pay. Unlike a deduction, which reduces the amount of income subject to tax, a tax credit directly reduces the tax itself. Please note, not all ENERGY STAR qualified products qualify for a tax credit. ENERGY STAR distinguishes energy efficient products which, although they may cost more to purchase than standard models, will pay you back in lower energy bills within a reasonable amount of time, without a tax credit.
NOTE: Tax credits that were 30% up to $1,500 EXPIRED on December 31, 2010. New tax credits were passed, but at lower levels.
What is included in the Tax Credit? (For more information go to: http://www.energystar.gov/index.cfm?c=tax_credits.tx_index
Tax Credit: 10% of cost up to $500 or a specific amount from $50 - $300
Expires: December 31, 2011
Details: Must be an existing home & your principal residence. New construction and rentals do not qualify.
Biomass StovesBiomass stoves burn biomass fuel to heat a home or heat water. Biomass fuel includes agricultural crops and trees, wood and wood waste and residues (including wood pellets), plants (including aquatic plants), grasses, residues, and fibers.
Tax Credit Amount: $300
Requirements
Thermal efficiency rating of at least 75%
Wood Burning Efficiency & Safety
Heating, Ventilating, Air Conditioning (HVAC)Advanced Main Air Circulating Fan
An Advanced Main Air Circulating Fan is an efficient fan, or blower motor which blows the air that your furnace heats up through the duct system.
Tax Credit Amount: $50
Requirements
Must use no more than 2% of the furnace's total energy.
Air Source Heat Pumps
Heat pumps offer an energy-efficient alternative to furnaces and air conditioners in moderate climates. Like your refrigerator, heat pumps use electricity to move heat from a cool space into a warm, making the cool space cooler and the warm space warmer. During the heating season, heat pumps move heat from the cool outdoors into your warm house; during the cooling season, heat pumps move heat from your cool house into the warm outdoors. Because they move heat rather than generate heat, heat pumps can provide up to 4 times the amount of energy they consume.
Tax Credit Amount: $300
Central Air Conditioning (CAC)
The best way to find tax credit eligible CACs is to ask your HVAC Contractor (Heating Ventilation and Air Conditioning). To verify tax credit eligibility, ask your HVAC contractor to provide the Manufacturer Certification Statement for the equipment you plan to purchase. Or, search the Manufacturer's website.
Tax Credit Amount: $300
Gas, Propane, or Oil Hot Water Boiler
These are heating units that use water circulated throughout the home in a system of baseboard heating units, radiators, and/or in-floor radiant tubing.
Tax Credit Amount: $150
Requirements
AFUE = 95
Tax Credit includes installation costs.
Natural Gas, Propane or Oil Furnace
A furnace uses the combustion of fuel and air to create heat.
Tax Credit Amount: $150
Insulation
Adding adequate insulation is one of the most cost-effective home improvements that you can do.
Tax Credit Amount: 10% of the cost, up to $500
Requirements
Typical bulk insulation products can qualify, such as batts, rolls, blow-in fibers, rigid boards, expanding spray, and pour-in-place.
Products that air seal (reduce air leaks) can also qualify, as long as they come with a Manufacturers Certification Statement, including:
Weather stripping
Spray foam in a can, designed to air seal
Caulk designed to air seal
House wrap
Tax Credit does NOT include installation costs. But, you can install the insulation/home sealing yourself and get the credit.
Insulation efficiency through Home Performance with ENERGY STAR
Heat & Cool Efficiently at Home
Roofs (Metal & Asphalt)Qualified roof products reflect more of the sun's rays, which can lower roof surface temperature by up to 100F, decreasing the amount of heat transferred into your home.
Tax Credit Amount: 10% of the cost, up to $500
Requirements
"Metal roofs with appropriate pigmented coatings" and "asphalt roofs with appropriate cooling granules" that also meet ENERGY STAR requirements.
Tax Credit does NOT include installation costs.
Water Heaters (non-solar)Gas, Oil, Propane Water Heater
Water heating can account for 14%–25% of the energy consumed in your home.
Tax Credit Amount: $300
Requirements
Energy Factor = 0.82 OR a thermal efficiency of at least 90%.
Electric Heat Pump Water Heater
Water heating can account for 14%–25% of the energy consumed in your home.
Tax Credit Amount: $300
Requirements
Energy Factor = 2.0
More Information
How to apply
Windows & DoorsWindows, Doors, Skylights
Energy efficient windows, doors and skylights can reduce energy bills.
Tax Credit Amount: 10% of the cost, up to $500, but windows are capped at $200.
Requirements
Must be ENERGY STAR qualified.
You do not have to replace all the windows/doors/skylights in your home to qualify. And it doesn't need to be a replacement either - installing a new window where there wasn't one previously (like in an addition) qualifies.
Tax Credit does NOT include installation costs.
Tax Credit: 30% of cost with no upper limit
Expires: December 31, 2016
Details: Existing homes & new construction qualify. Both principal residences and second homes qualify. Rentals do not qualify.
Geothermal Heat PumpsGeothermal heat pumps are similar to ordinary heat pumps, but use the ground instead of outside air to provide heating, air conditioning and, in most cases, hot water. Because they use the earth's natural heat, they are among the most efficient and comfortable heating and cooling technologies currently available.
Tax Credit includes installation costs.
Geothermal Heat Pump FAQ
All ENERGY STAR geo-thermal heat pumps qualify for the tax credit.
What about water-to-water geothermal heat pumps?
Small Wind Turbines (Residential)A wind turbine collects kinetic energy from the wind and converts it to electricity that is compatible with a home's electrical system.
Requirements
Must have a nameplate capacity of no more than 100 kilowatts.
Tax Credit includes installation costs.
Solar Energy Systems Solar Water Heaters
Solar water heaters come in a wide variety of designs, all including a collector and storage tank, and all using the sun's thermal energy to heat water. Solar water heaters are typically described according to the type of collector and the circulation system.
Requirements
At least half of the energy generated by the "qualifying property" must come from the sun. The system must be certified by the Solar Rating and Certification Corporation (SRCC) or a comparable entity endorsed by the government of the state in which the property is installed.
Note: The credit is not available for expenses for swimming pools or hot tubs. The water must be used in the dwelling.
Photovoltaic systems must provide electricity for the residence, and must meet applicable fire and electrical code requirement.
Tax Credit includes installation costs.
Solar Water Heater
All ENERGY STAR Qualified solar water heaters qualify for the tax credit.
Solar Panels (Photovoltaic Systems)
Solar Panels or Photovoltaic Systems are solar cells that capture light energy from the sun and convert it directly into electricity.
Tax Credit: Credit Details: 30% of the cost, up to $500 per .5 kW of power capacity
Expires: December 31, 2016
Details: Existing homes & new construction qualify. Must be your principal residence. Rentals and second homes do not qualify.
Fuel Cells (Residential Fuel Cell and Microturbine System)Fuel cells are an important enabling technology for the hydrogen economy and have the potential to revolutionize the way we power our nation, offering cleaner, more-efficient alternatives to the combustion of gasoline and other fossil fuels.
Requirements
Efficiency of at least 30% and must have a capacity of at least 0.5 kW.
Tax Credit includes installation costs.
New Buffalo Impact 34 Peuquet Pkwy Tonawanda, NY 14150 (716) 881-1477 (716) 694-8109 fax inquiry@newbuffaloimpact.com
When it comes to home energy improvement...New Buffalo Impact makes it simple...from start to finish!
Heating/Cooling/Hot Water Heaters Insulation Air Sealing Windows/Doors Appliances Energy Audits
Reduce your energy bills. Save money every month. Get rid of that "drafty" feeling. Eliminate "cold spots." Feel more comfortable. Become "energy safe." Enhance home value.
Download your free energy audit application here, and call us for assistance in filling it out and submitting it. (716) 881-1477.
For current, or additional,
financial incentives/assistance, call:
New Buffalo Impact at:
(716) 881-1477
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Green Jobs - Green New York
The Green Jobs - Green New York (GJGNY) Program provides New Yorkers with access to energy audits, installation services, low-cost financing (currently for residential customers only), and pathways to training for various green-collar careers. For more information go to: Green Jobs - Green NY and Green Jobs - Green NY loans. You can also check out: http://www.getenergysmart.org/SingleFamilyHomes/ExistingBuilding/HomeOwner.aspx
Most New Yorkers qualify for a FREE or reduced cost comprehensive home assessment, also referred to as an energy audit, and low-cost financing through Home Performance with ENERGY STAR**. Find out how to participate.
Join the thousands of New York homeowners who have made energy efficiency improvements to their homes following home assessment and significantly reduced their home energy bills. These homeowners enjoy benefits such as increased energy efficiency, fewer drafts, consistent temperatures throughout rooms, increased ventilation and humidity control and lower utility bills.
Take advantage of low-interest loans and cash-back incentives for the energy efficiency improvements.
Participants may finance energy efficiency improvements through Green Jobs - Green New York Financing* or Energy $mart Loans. Only work performed by a participating Building Performance Institute Accredited Home Performance Contractor through the Home Performance with ENERGY STAR® Program qualifies for financing. Participants can choose from the following options to pay for the cost of work. Additionally participants may be eligible for high efficiency measure cash-back incentives.
Take advantage now of low interest loans through Green Jobs - Green New York*. Apply now through Energy Finance Solutions. Financing is available to participants in the Home Performance with ENERGY STAR® Program to finance the installation of recommended energy efficiency improvements that may be repaid through energy savings. Interest rates are subject to change without notice.
Features:
Low interest rates available through Green Jobs - Green New York*
Loans of up to $13,000 per homeowner
Select a loan repayment period of 5, 10, or 15 years
Projects using Green Jobs – Green New York financing* must be cost-effective
Can combine with high efficiency measure cash-back incentives
Energy $mart Loans are offered through a network of Participating Residential Loan Fund Lenders servicing New York State.
The following conditions apply:
Loans up to $20,000 ($30,000 in the Consolidated Edison service territory) may be obtained on a secured or unsecured basis, at the option of the Lender and the Borrower
Your interest rate is bought down by up to 4.0% or 400 basis points, reduced as low as 3.0%, for a term up to ten (10) years
Procedures and conditions may vary by Participating Lender, and by loan
Cannot combine with high efficiency measure cash-back incentives
