- 2011 Rebates Update: Heating & Cooling
Here’s the the latest information on tax credits for residential heating and cooling equipment.
READ MORE > - 2011 Rebates Update: Solar
Here is the latest information on tax credits for residential solar water heating and photovoltaic systems.
READ MORE > - 2011 Rebates Update: Wind & Geothermal Systems
Here is the latest information on tax credits for residential wind and geothermal systems.
READ MORE >
Energy efficiency incentives likely to grow
Posted on 30. Jul, 2009 by GMS Editor in Featured, Newsflash, ShowOnLatestPanel
An unprecedented push by the U.S. government to widen rewards for energy-conscious homeowners is underway. An example: FHA loans offering 5% larger mortgages to buyers who plan on making renovations.
By Kenneth R. Harney
July 26, 2009
Reporting from Washington — You’re probably familiar with some of the federal government’s incentives for home energy efficiency — heftier tax credits for solar panels, solar water heaters, geothermal heat pumps, heavy-duty insulation, windows, air conditioning and the like.
But these are just the beginning of an unprecedented push by the government that’s getting underway for energy conservation in housing.
At the Department of Housing and Urban Development, a new generation of mortgages designed to encourage energy efficiency is being rolled out, starting with Federal Housing Administration loans that offer 5% larger mortgages to people who plan on making energy-efficiency improvements.
For example, if you qualify for a $300,000 FHA mortgage, the FHA might now be able offer you an additional $15,000 if the extra money is used to substantially lower the property’s annual energy consumption.
Among the key housing-related provisions in the bill:
* The FHA is directed to insure a minimum of 50,000 new energy-efficient mortgages during the coming three years. An energy-efficient house is defined as one in which energy consumption is reduced by 20% following renovations.
* Fannie Mae and Freddie Mac are directed to develop mortgage products and more flexible underwriting guidelines to reward energy-conscious borrowers and builders.
