There are four steps to the complete HeatSmart program. 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.
Until the end of 2020, there are enormous rebates, tax credits, and low interest (0.99%) financing available for your energy efficiency home improvements. Utility bill savings begin immediately after carrying out the modifications.
We have run the numbers for two typical homes and here are the results:
Example 1 – A 2000 square foot home heated by oil.
The Takeaway:
- The Home Energy Solutions (HES) visit costs you nothing and will typically save $250 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 $147 per year. If you need to replace an old furnace, or are income eligible, this is even more attractive.
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 $250 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.