Rebates and Financing
Rebates from New Jersey’s Clean Energy Program
Here’s what is offered:
Rebates are awarded based on the estimated energy savings you will gain from efficiency improvements installed by a HPwES participating contractor. To determine your needs and potential savings a professional energy audit is required. The auditor collects data about your home, including usage information from your energy bills and enters it into the states analyzing software, along with the auditor’s recommended improvements. Your energy savings after improvements is then calculated to form your “Total Estimated Energy Savings” or “TES”, and this is what determines what rebate is awarded, the more energy you will save, the bigger the rebate you will receive. The table below breaks down the incentives offered by the program and requirements for eligible measures.*
HPwES Incentives for Single Family or Townhouse projects
|5% to 19.99% TES (Tier 2): Must install air sealing, must install insulation in at least one location and must address health & safety issues. May also install additional insulation upgrades, duct sealing, duct insulation and water heater measures from the Eligible Measures List.||
|20% to 24.99% TES (Tier 3, Level 1): Must install air sealing, must install insulation in at least one location and must address health & safety issues. May include additional measures from the Eligible Measures List.||
|25% TES or greater (Tier 3, Level 2): Must install air sealing, must install insulation in at least one location and must address health & safety issues. May include additional measures from the Eligible Measures List.||
*Example: If your project achieves 7% TES and your total cost for eligible measures is $4,500, you would receive a $2,000 rebate; or, if your total cost is $3,800, you would receive a 50% rebate of $1,900. If you have already received an HPwES rebate for a particular property, you will only be eligible for additional incentives if you have not exceeded the above FY2016 incentive caps. For details, see the Frequently Asked Questions at NJCleanEnergy.com. Eligible Measures: The only measures that may be included in a work scope, be applied toward TES calculations and be eligible for incentives are those that 1) are listed on and meet the requirements of the HPwES Eligible Measures document, 2) are approved by the NJ Clean Energy Program and 3) are proposed to be provided and installed by a HPwES Participating Building Performance Institute (BPI) accredited contractor. A Participating BPI contractor may subcontract all or a portion of their contracted work scope to any contractor that has the requisite BPI certification(s) for the work being performed or to any contractor if the Participating BPI contractor has the requisite BPI certification(s) and oversees the work being performed. The contract of the full work scope submitted to the NJ Home Performance with ENERGY STAR Program is required to be contracted directly with the Participating BPI contractor submitting the project to the program in order to be eligible for incentives. Any portion of a work scope that the customer has agreed to pay to a subcontractor or any other entity directly is not eligible for Program incentives. Program details and incentives are subject to change. Commitments are not to exceed budget. The funding will be available until June 30, 2016 or until the funds are fully exhausted, whichever comes first. *Incentives and Requirements Notes:
- Appliances, lighting, doors, and windows are not eligible measures for program incentives.
- The measures used to calculate TES may also include health and safety measures and qualified accessories, as listed on the NJ HPwES eligible measures document, as a component of the installation of eligible measures.
- Incentives are payable only upon satisfactory project completion.
Lender Options for HPwES Financing, Single Family or Townhouse projects:
- NJ Credit Union League, cuGreenLoan: To apply, go to cugreenloans.org. All financing options noted in above chart are available.
- Energy Finance Solutions (EFS): To apply, go to energyfinancesolutions.com. All financing options noted in above chart are available.
- South Jersey Gas (SJG): To be eligible, you must be a SJG heating customer and your project must achieve 20%+ TES (Tier 3, Levels 1 or 2). To apply, go to energyfinancesolutions.com (loan is underwritten by EFS).
- New Jersey Natural Gas, On-Bill Repayment Plan (OBRP): To be eligible, you must be a NJNG heating customer. Current OBRP terms can been seen here at savegreenproject.com