What are HERS/Energy Audit Benefits?
There are two key benefits: lower costs and better home financing (or loan) options. The most obvious benefit if you currently own your home: you will reduce your energy costs substantially. At the same time, you will be increasing the value of your home. If you are shopping for a home, a low HERS rating is a guarantee that a home is energy efficient and will save you energy dollars. (Remember, Energy Star certified homes also meet high HERS ratings.)
The second benefit involves financing (and refinancing). HERS-rated homes can qualify for "energy efficient" mortgages. Many mortgage companies recognize that owners of energy-efficient homes pay much lower energy bills. This means they can pay more in home loan costs and their home has a higher resale value. Accordingly, many mortgage lenders will help borrowers increase their buying power by providing longer-term, lower interest loans. In addition, many will let you "add" energy-related costs (such as the HERS evaluation or HERS-recommended energy efficiency improvements) to the overall loan total.
If you own an existing home, you can also qualify for "energy efficiency" loans to finance HERS-recommended improvements
An Energy Audit's Purpose
Identify the type, size, condition, and rate of energy consumption for each major energy using device
Energy Tax Credit
The American Recovery and Reinvestment Act (ARRA) of 2009 permits homeowners a 30% federal tax credit of up to $1500 for the addition of Energy Star products to their home. All products that are recommended and provided by EnWise Power Solutions LLC is an approved product for energy efficient upgrades. This tax credit applies to qualified energy efficient products purchased and installed between February 17, 2009 and December 31, 2010. This credit is applicable for the 2009-2010 taxable years.
