Wow! New AK Home Energy Efficiency Rebates

Thanks to Jerrol Friend

Home Energy Rebate Grant Program Guidelines

The Home Energy Rebate Grant Program will rebate up to $10,000 to a homeowner who improves the energy efficiency of their home. A qualified homeowner must improve the efficiency of the home at least 1 step using the energy rating system. (See additional requirements and the chart below.)

A final rating of at least a 1 Star plus (1«+), or greater must be achieved to qualify for a rebate. This is a one time rebate for any one family or home.

To participate in the program:

• Find an AKWarm energy rater and get an As-Is AKWarm energy rating. AKWarm energy raters can be found on the AHFC web site by going to: http://www.ahfc.state.ak.us/iceimages/reference/icboraters.pdf

• Use the Improvement Options Report from the As-Is energy rating as a guide to make energy efficient improvements. The report serves as a guideline for AHFC and the homeowner as to the energy savings, cost of the improvement & return on the energy improvement investment.

• Make the improvements you have selected from the Improvement Options Report within one year. You may do the work yourself or hire a contractor. Only those items relating to energy efficiency and recommended in the improvement options report are eligible for a rebate.

• Get a Post Improvement AKWarm energy rating by calling your rater and scheduling the follow up visit. The rater will verify the work completed and provide you with a new energy rating certificate. The rebate amount is determined by the increase in the rating from the As-Is rating. (EG: As-Is 3 Star+ vs. 4 Star Post Improvement rating = 1 steps = $4,000.00).

Maximum Rebate Amounts:

One step - up to $4,000

Two steps - up to $5,500

Three Steps up to $7,000

Four steps up to $8,500

Five or more up to $10,000

• A homeowner is only eligible to receive a rebate of actual expenses, no matter how many points or steps have occurred. For example, if a homeowner spends $3,500 on energy efficient improvements, and moves two steps, they will only receive a rebate of $3,500, not $5,500.

• You have one year from the date of the As-is energy rating to complete the energy efficiency work, the Post Improvement energy rating, and turn the completed application into Alaska Housing Finance Corporation.

You are not eligible for the Home Energy Rebate if:

• You have participated in the Weatherization Assistance Program after May 1, 2008.
• You have received a Home Energy Rebate after May 1, 2008.
• If your AS-IS RATING was done before April 5, 2008* or is more than one year old.
• You fail to provide any of the requested information.

*A rating done between April 5,2008 and May 15, 2008 will be eligible for rebate purposes. These ratings are paid at the homeowner expense, and will not be reimbursed by AHFC. The cost of ratings done after May 15, 2008 will be reimbursed directly to the rater, up to $500 for the As-Is and post improvement ratings.

The energy rater will be paid 65% of the reimbursable cost of the rating ($325) for the pre-, or As-Is rating, and 35% ($175) for the post rating. The rater must have the homeowner sign the rater application form for rater reimbursement.

Energy Ratings and rating points

The amount of the rebate is determined by the number of steps increased between the As-is and the Post Improvement energy ratings.

This chart can help you understand the correlation between your energy rating points and the energy rating stars for your home’s energy rating: (sorry the chart won't post)

A rating of 2 Stars plus (60-67 points), to 3 Stars (68-72 points), would be one step. A rating of 2 Star (2«), to 3 Stars (3«), would be two steps.

Additional Requirements:

To be eligible for a rebate, the final energy rating must be at least one star plus (1«+), and have increased one step and at least five points. This is applicable to all homes with a final rating of three stars (<3«) or less. For homes with a final rating of 3 Star plus (>3«+) or more, at least one step and three points increase is required.

Submit your home energy rebate application with copies of the As-Is and Post Improvement energy rating, receipts, and a property tax assessment or other proof of ownership to the Alaska Housing Finance Corporation. At:

Alaska Housing Finance Corporation

Energy Efficiency Rebate

PO Box 101020

Anchorage, AK 99510-1020

The application must be received within one year of the date of the As-Is rating.

To be eligible for a rebate, the homeowner must be the year round occupant of the upgraded home and apply for the rebate within one year of the date on the As-Is rating. Each family and property is eligible for one rebate only. The person to whom the rebate is paid will be required to submit a Social Security number, and the amount of the rebate will be reported to the United States Internal Revenue Service. An IRS form 1099 will be mailed to you at the end of the year in which the homeowner received the rebate.

Rebate funds are subject to appropriation by the Alaska Legislature, and are subject to funding availability. If or when funding becomes limited, the Alaska Housing Finance Corporation may terminate the program. Public notice shall be provided on the AHFC website www.ahfc.us .

For more information contact:

Alaska Housing Finance Corporation

PO Box 101020

Anchorage, AK 99510-1020

907-338-6100 (Anchorage)

1-800-478-2432 (toll free statewide)

www.ahfc.us