There are four steps to the complete HeatSmart program:
- HES audit
- Insulation upgrades
- Heat pump installation
- Solar panel installation
The program takes advantage of the many rebates and financing incentives that are available to you. You can quit after any step but you will likely be leaving money on the table.
We have run the numbers for four typical homes and here are the results for:
Example 2 – A 2000 square foot home heated by baseboard electric.
The Takeaway:
- The Home Energy Solutions (HES) visit costs you nothing and will typically save $300 per year
- You can get $4,724 worth of insulation for $418 per year after rebates for a net savings of nearly $400 per year for the life of the loan, and $818 every year after that.
- After accounting for your rebate and favorable financing a new, $10,000, Heat Pump will pay for itself and save an additional $1,216 per year.
To get started just click here: I’m Interested
| Work Performed | Total Cost ($)s | Finance Cost ($/Year) (1) | Fuel Savings ($/Year) | Net Savings ($/Year |
|---|---|---|---|---|
| Home Energy Solutions (HES) | $1,400 | | | |
| – Free Services | $1,400 | | | |
| | $0 | $0 | $300 | $300 |
| Attic Insulation | $2,570 | | | |
| – Rebate | $2,200 | | | |
| – Cost After Rebate | $370 | $46 | $219 | $173 |
| Cellar Rim Joist Insulation | $334 | | | |
| – Rebate | $286 | | | |
| – Cost After Rebate | $48 | $6 | $85 | $79 |
| Basement Ceiling Insulation | $1640 | | | |
| – Rebate | $1640 | | | |
| – Cost After Rebate | $0 | $0 | $653 | $653 |
| — Total Insulation | $418 | $52 | $957 | $905 |
| Heat Pump | $10,000 | | | |
| – Eversource Rebate | $3,500 | | | |
| – 22% Federal Rebate | $2,200 | | | |
| – Cost After Rebate | $4,300 | $1,658 | $2,875 | $1,216 |
| —- Total Costs | $4,718 | $1,710 | $4,132 | $2,422 |
(1) Insulation is financed at 6.99% for 12 years
The heat pump is financed through CT Greenbank at 0.99% for a term of 10 years