|May 31, 2012|
|For Release: Immediately|
Utility Debuts On-Bill Financing for Energy Efficiency Measures
Central Hudson rebates also available
Central Hudson Gas & Electric Corporation customers who borrow qualified low-interest loans in order to make energy efficiency improvements to their homes have the option to repay those investments via their utility bills under a new program offered by New York utilities and the New York State Energy Research & Development Authority (NYSERDA). The repayment amount will be shown as a separate line item on the Central Hudson bill, and will be applied to the loans, which are being made available by NYSERDA.
“To qualify for the loans and on-bill financing, residents must first have a home energy audit performed by an accredited contractor, certified by the Building Performance Institute (BPI) and approved by NYSERDA,” said Anthony S. Campagiorni, Vice President of Business Development and Government Affairs, and who oversees Central Hudson’s energy efficiency programs. The contractor will provide an audit report that outlines energy efficiency recommendations, including estimated costs and payback times.
“The low-interest loans may be obtained through NYSERDA, and payments are calculated to approximate the energy savings, so bill impacts are potentially neutralized,” he said. Repayment terms last up to 15 years and become attached to the utility account for that home, and are transferrable when the home is sold.
Both homeowners and owners of buildings with 1 to 4 residential rental units may participate, and applicants must meet NYSERDA credit standards. A homeowner is eligible to finance up to $25,000 if the payback period for the energy efficiency investment is 15 years or less, and up to $13,000 if the payback period is longer.
“If the energy audit indicates measures that would also qualify under Central Hudson’s energy efficiency programs, customers may also receive rebates associated with those improvements,” said Campagiorni. Central Hudson’s incentives include rebates of up to $600 on high efficiency heat pump and air conditioning systems, $600 on home sealing and up to $700 on replacement natural gas heating systems.
Since January, 20 Central Hudson customers have been pre-approved or approved for financing on pending projects.
The program will also soon be available for small businesses, not-for-profit organizations and multi-family buildings; details will be announced when they become available.
For more information, including a list of approved BPI-certified contractors, program details and Frequently Asked Questions, visit www.NYSERDA.ny.gov or go to www.CentralHudson.com/onbillfinancing to learn more about on-bill financing and Central Hudson’s energy efficiency incentives.
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