Colorado Economic Recovery and Accountability

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Press Release - Energy Efficiency Rebate Program Announced

OFFICE OF GOV. BILL RITTER, JR.

WWW.COLORADO.GOV/GOVERNOR


FOR IMMEDIATE RELEASE
TUESDAY, JULY 14, 2009

Contact:
Todd Hartman, 303.866.2262, todd.hartman@state.co.us
Myung Oak Kim, 303.947.5708, myung.kim@state.co.us


GOV. RITTER ANNOUNCES EFFICIENCY PROGRAMS TO HELP HOMEOWNERS


Gov. Bill Ritter and the Governor's Energy Office will be applying for a portion of the $300 million announced today by the U.S. Department of Energy for home appliance rebates. Colorado will be eligible for $4.7 million from the American Recovery and Reinvestment Act that will be used to provide rebates for residents who purchase new ENERGY STAR qualified home appliances, such as furnaces and refrigerators.


This is the latest of several state and federal initiatives now or soon to be available to help homeowners save money when purchasing energy efficient appliances, installing energy efficient windows, doors and roofs, or adding renewable energy systems to their homes.


"The program announced today by the U.S. Department of Energy complements a host of programs that already are helping Colorado homeowners reduce costs and energy use," Gov. Ritter said. "I encourage all homeowners and renters to take advantage of the available tax credits and rebates. We're designing a rebate package that will make it easier for homeowners to take important steps toward a more energy efficient home while boosting the economy at the same time."


"Energy Efficiency is Colorado's greatest untapped energy resource," said Tom Plant, director of the Governor's Energy Office. "Coloradans replacing older, inefficient appliances can save money and energy through this program. We're very excited to be able to offer this incentive to Colorado families."


To qualify for the funds announced today, each state must submit a plan that specifies which ENERGY STAR appliance categories will be included in its rebate program, the rebate level for each product type, how the rebates will be processed, and a plan for recycling old appliances. States must first file an initial application expressing their intent to participate by Aug. 15, followed by a full application by Oct. 15. The appliances that will eligible for rebates and the size of the rebate for each appliance has not been determined.


Other programs that are currently available:
  • Tax credits through the Recovery Act for installing energy efficient windows, doors, roofs, insulation, heating and air conditioning systems and water heaters. Homeowners can deduct up to $1,500 from their income taxes for eligible projects.
  • Tax credits through the Recovery Act for homeowners who install biomass stoves, geothermal heat pumps, solar energy systems, small wind energy systems and fuel cell and microturbine systems. Homeowners can deduct up to 30 percent of the cost of the project.

Those two federal programs are administered by ENERGY STAR, a joint venture by the Environmental Protection Agency and the U.S. Department of Energy. More information is available at http://www.energystar.gov/taxcredits. Homeowners need to purchase eligible products and to keep receipts for products and installation fees. Then they must obtain a tax form from the IRS and submit that form with the receipts when they file income taxes.


The Governor's Energy Office soon will be rolling out additional rebate programs under the Recovery Act to help homeowners better insulate their homes as well as install solar electric systems and solar-heated domestic hot water. In addition, the GEO is administering $80 million in Recovery Act funding over the next three years to help income-qualified residents statewide make their homes more energy efficient and lower utility bills.


More detailed information is available about each rebate program through the state energy office website at http://www.colorado.gov/energy.