What are my options?
So you have decided to retrofit your house, but you are not sure how to pay for it. That’s ok, the Colorado Energy Office worked with industry stakeholders to put together a chart the goes over the common options to finance an energy retrofit. The chart provides the basic loan details and positives and negatives of using certain loan product. To view the chart please click here.
Are there any rebates available?
Check out Recharge Colorado for statewide rebates availability.
Colorado Energy Saving Mortgage
If a homebuyer or homeowner in the market for a mortgage refinance wants to upgrade the performance of their home, the Colorado Energy Saving Mortgage provides a loan benefit to Colorado resident homebuyers and homeowners through 1 discount point in the form of an interest rate buy-down. The goal of this program is to incentivize energy efficiency improvements in homes by providing a finance mechanism that will typically save more money on their mortgage and monthly utility bills than the amortized cost of the improvements. After the necessary energy efficiency criteria are met, there is the possibility of incorporating renewable energy systems into the loan as well. All improvements must follow the guidelines below, as well as any other requirements set by the Colorado Energy Office (CEO). Loan details and amounts will be assessed by the Bank of Colorado to ensure that all lending guidelines are followed. The maximum benefit issued equates to a $5,000 benefit, based on a $500,000.00 maximum loan amount which ($500,000 x 1%); up to $2500 of which will be reimbursed by the CEO.