We received a call from our HVAC contractor today. After
anxiously patiently waiting 4 months, our heating, air conditioning & water heater project has finally been approved through the Home Performance with Energy Star program.
THE PROGRAM IN A NUTSHELL: Four months ago, our contractor conducted a comprehensive "energy audit" of our home. The energy efficiency of the existing heating & hot water system in our home was compared to a proposed updated system (two-stage gas furnace, two-stage air conditioner & on demand water heater). Based on this comparison, the contractor was able to calculate the anticipated percentage of energy savings. At the time, significant financial incentives were available through the Home Performance with Energy Star program for homes with an energy savings greater or equal to 25%. After much project tweaking, our energy savings was ultimately calculated to be in the range of 30%. The calculations were included with our application, were reviewed and eventually approved! As a result, we are eligible for a rebate totaling 50% of the project cost (up to $10,000) and 0% financing (also up to $10,000). This is a Big Deal!
In conclusion, the short version of a very long boring story . . . we were fortunate enough to submit our application in April just prior to changes in the program incentives. In early May the program incentives were reduced to a maximum rebate amount of $3,000!
Work is scheduled to begin Tuesday 9-7-10. If all goes as planned, we will enjoy our new central AC for the last few weeks of summer.