Is My Home Eligible for Home Improvement Grants?

Below we have listed several home improvement grants and loans which you may wish to apply for. Please note acceptance is not guaranteed in all cases. It isn’t an exhaustive list but to give you an idea of what is available. Note, most grants have an expiration date, so do check the grant is still current before making an application.

Federal Tax Credit

At the present time residential and commercial customers receive a 30% Federal Tax Credit for PV solar electricity systems, but is set to expire in 2015 and 2016.

Residential Energy Efficient Property Credit

This credit is for 30% of the cost of alternative energy equipment installed on or in your home. Includes: wind turbines, solar electric and solar hot water heaters. The property must be in the U.S. It does not have to be your main home. These home improvement grants are available through 2016.

Orlando Utilities Commission - Residential Solar Water Heater Rebate Program

The home improvement grants offers residential electric customers a $1,000 for new solar water heating systems. All customers must have their systems installed by a licensed contractor and have a permit approved.

buyers-guide-residential-solar-pv-cost-breakdown

Solar and CHP Sales Tax Exemption

Solar energy systems are exempt from Florida's sales and use tax. Sellers of solar energy systems are required to document exempt sales. The Florida Department of Revenue recommends that the purchaser complete a form provided and present it to the seller.

Property Tax Exclusion for Residential Renewable Energy Property

Florida tax exemption home improvement grants also apply to solar energy collectors, photovoltaic modules, inverters, wind energy systems and solar water heaters.

eligible-home-improvement-grantsLow Income Home Energy Assistance Program.

This grant is for help with small energy costs. Applicants will need to provide documentation to qualify including: utility bills, payroll stub, proof of income, Unemployment Insurance, Pension Funds, disability and proof of U.S. citizenship or permanent residence.

Fannie Mae Green Initiative- Loan Program

Fannie Mae provides number of financing programs to property owners through its Green Financing Initiative. They are designed to encourage investments in energy and water saving improvements. The program provides property owners up to 5% additional funds in loans with a low interest rate.

All affordable multifamily properties are eligible for the funding. The properties must be in US, and must be able to project a 20% minimum consumption savings in energy and/or water.  There are number of financing programs to property owners through its Green Financing Initiative. The programs are designed to help a range of property owners to make energy and water efficiency improvements with loans at low interest rates.

NRDC: Renewable Energy in Florida

Florida has one of the biggest rates of home electricity consumption in US. Florida's Front Porch program has provided 150 solar water heaters to homeowners, business owners and home builders who install solar-energy systems.

Conclusion

It is important to do some research if looking for home improvements grants because as fast as some expire, new grants will appear on the market for people to take advantage of. Remember with or without a grant, the savings you’ll make by installing energy saving equipment will soon begin to pay for itself.

Topics: Home Remodeling

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