Government entities often offer incentives for energy efficient upgrades for both residential and commercial structures in an effort to incite us to more energy efficient alternatives. One would think these options would be common knowledge, but regrettably, they rarely are. One such option, one that really should be common knowledge in our area, is a program sponsored by the City of Seattle called Community Power Works. This program offers a reduced rate energy assessment and low-interest loans for energy efficient upgrades that the borrower is able to pay back on their Seattle City Light bills. The following is from the DSIRE (Database of State Incentives for Renewables & Efficiency) website:
Community Power Works, funded by the U.S. Department of Energy's Better Buildings Program, offers loans and rebates for eligible energy efficiency improvements and partners with Seattle City Light to offer energy assessments at a reduced rate of $95 for homeowners.
Once a home is assessed, customers select energy efficiency improvements and apply for financing. Loan amounts are calculated after factoring in other rebates and incentives. For residential properties, loans are available from two lending partners. Craft3 loans are available for up to $30,000, with interest rates fixed at 3.39% APR or 4.49% APR, depending on the income level of the homeowner. Loan terms range from 3 to 20 years, and loans are typically repaid on Seattle City Light bills. Loans through Puget Sound Cooperative Credit Union are available for up to $50,000, with interest rates fixed between 4.25% and 8.74%. Loan terms up to 15 years are available. Renewable energy projects, such as solar, can be included in Puget Sound Cooperative Credit Union loans.
Community Power Works
Database of State Incentives for Renewables & Energy Efficiency