Alaska Provides $300 Million for Home Energy Improvements
Rebates, loans, and free assistance help residents save money and energy.
July 2008
Alaskans endure some of the highest energy costs in the nation, but they are seeing some relief, thanks to legislation signed by Governor Sarah Palin in May. The measure provided $300 million to the Alaska Housing Finance Corporation (AHFC) for three programs to help Alaskans reduce energy bills and make their homes more energy efficient.
"The legislature and governor recognized the severe energy cost problems facing many Alaskans, and they acted decisively by authorizing this large amount of money for energy conservation…this money will provide ongoing savings to thousands of Alaska's families."
- Dan Fauske, CEO and executive director of Alaska Housing Finance Corporation
The programs are:
Home Energy Rebate Program, which allows homeowners who make their own energy efficiency improvements to receive a rebate for some or all of their expenditures. Open to any year-round occupant of an owner-occupied residence, the program requires a home energy rater to evaluate homes before and after the improvements. The more a home’s energy efficiency improves, the greater the possible rebate. The rebates cover the cost of ratings up to $500 and cover the cost of improvements up to $10,000. In addition, the program may provide a $7,500 rebate for qualified new 5 Star Plus homes, which exceed the AHFC Building Energy Efficiency Standard.
Second Mortgage Program for Energy Conservation in which borrowers apply to AHFC for financing to make energy improvements on owner-occupied properties. If the Home Energy Rebate Program does not fully cover energy efficiency improvements, the Second Mortgage for Energy Conservation program enables AHFC to loan up to $30,000 to qualified borrowers. Borrowers select from the list of energy upgrades included with the energy audit of their home, performed by an AKWarmTM certified energy rater. All improvements must be completed within 365 days of loan closing.
Weatherization Program for residents who meet certain income and eligibility guidelines. The program provides free weatherization assistance for homes, rentals, and multi-family dwellings. Eligible participants, once accepted in the program, are put on a waiting list and eventually have their homes assessed by a weatherization expert. Using the assessment results as a guide, a weatherization crew makes appropriate improvements, and then a weatherization assessor verifies the work.
Read more about the AFHC Home Energy Rebate, Weatherization, and Loan Programs.
See more Alaska project descriptions published in Conservation Update.
Read recent Alaska news stories about state involvement in renewable energy and energy efficiency projects published on the EERE Web site.