New sources for financing replacement windows
August 06, 2010 14:11
Many states and local utility companies are offering programs to finance home improvements that increase energy efficiency.
You’ve decided to replace the windows in your home. You’ve hired a contractor and selected the features and options you want. The next big decision…how do I pay for them?
In addition to traditional loan sources such as a home equity loan, a line of credit or a major credit card, many states and local utility companies offer programs to finance home improvements that increase energy efficiency, such as installing high-performance replacement windows. While some programs aim at improving a home’s energy efficiency in general, others focus solely on window energy performance.
There are different sources available to find out where these loans exist. Check out the Efficient Windows Collaborative (EWC) Website at www.efficientwindows.org. This site provides unbiased information on the benefits of energy-efficient windows, descriptions of how they work and recommendations for their selection and use. They provide an online list of incentives and rebates for Energy-Efficient Windows offered through utility and state programs. The programs are listed by state and by the specific utility companies that administer the programs.
You’ll also want to check out The ENERGY STAR® Website at www.energystar.gov. ENERGY STAR is a joint program of the U.S. Environmental Protection Agency and the U.S. Department of Energy helping consumers save money and protect the environment through energy efficient products and practices. The site features a special offer/rebate finder to encourage homeowners to purchase energy efficient products. ENERGY STAR partners occasionally sponsor special offers such as sales tax exemptions, credits or rebates on qualified products.
Finally, the U.S. Department of Energy provides funding to states for the Weatherization Assistance Program (WAP). This program enables low-income families to permanently reduce their energy bills by making their homes more energy efficient. You can find out more by visiting www1.eere.energy.gov/wip/wap.html.