Resources:
Local Providers:
- Grace Geothermal
- Yoder Geothermal
- Tinman Heating and Cooling
- Middleton Geothermal services
- Pier HVAC
Funding:
The State Loan Program is applicable to residential homeowners and provides from $500 to $10,000 through a reduced interest rate (up to 50 percent) for efficiency technologies.
The Double Saving Loan is available to qualified residential borrowers to improve energy efficiency in a one- to three-unit residential building. Borrowers use a private lender and then apply for approval for a interest-rate reduction of up to 50 percent.
Federal funding and tax incentives:
Federal Housing Authority (FHA) Energy Efficient Mortgages
The FHA allows lenders to add up to 100 percent of energy efficient improvements to an existing mortgage loan by insuring a loan of up to 5 percent of a home’s appraised value or $4,000, whichever is greater (not to exceed $8,000).
ENERGY STAR Energy Efficient Mortgages
The Environmental Protection Agency’s ENERGY STAR program uses specific private lenders to offer homebuyer assistance, home energy rating assistance, special financing, and other assistance to applicants buying homes with the ENERGY STAR rating. Borrowers apply directly to these lenders.
Residential Energy Efficiency Tax Credit
Tax Credit for geothermal heat pumps on residential buildings are eligible for tax credits up to the total expenditures on product. The credit can also be applied to labor costs for assembly and original installation but maximum credit is $300 for geothermal heat pump.
