Partnering for Energy Efficiency...and home improvement programs last year Total assets of $3.15...
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1 Duluth Energy Design Conference: Partnering for Energy Efficiency Dates
Transcript of Partnering for Energy Efficiency...and home improvement programs last year Total assets of $3.15...
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DuluthEnergyDesignConference:
Partneringfor
EnergyEfficiency
Dates
Minnesota’sstatehousingfinanceagency
In2014,investedmorethan$754millionandserved59,000households
13,000householdsbenefitedfromhomeownershipandhomeimprovementprogramslastyear
Totalassetsof$3.15billion
financingaffordablehousing
3Source:Energy.gov
HeaGngandcoolingaccount
for_____ofenergyuseintypicalU.S.home.
48%
FixUpHomeimprovementloans
theproducts
Secured-$50,000
SecuredEnergyandAccessibility-$15,000
Unsecured-$15,000
UnsecuredEnergy-$15,000
• Originates,underwrites,closesandfundsloan• SellstheloantoMinnesotaHousing
LENDER
• Helpsborrowerdeterminescopeofproject• GivesreferraltoMinnesotaHousinglender
CONTRACTOR
• AppliesforloanwithMinnesotaHousingapprovedlender
BORROWER
theprocess
theimprovements
siding,painSng,roofing
energyupgradesandaccessibilityimprovements
windows;insulaSon
kitchenandbathremodeling;electricandplumbing
focus:energyefficiency
• thermostat• furnace• aircondiGoner• waterheater
• windows• lightfixtures• insulaGon• andmore
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Howmanyhomesin
MinnesotahaveinadequateinsulaGon?
_________400,000+
• Reducedinterestrateof4.99%
• Higherloan-to-valueraSothantradiSonalproducts
• Longerrepaymentterms
thebenefits
• Noincomelimits
• Securedandunsecured
• Valuenow,valuelater
• AddiSonalmoney-savingrebates(Furnaceupto$400;CentralA/Cupto$200)
thebenefits
Programmablethermostat:Save10%peryearonenergycosts
ENERGYSTARappliances:Save$750overlifeofproduct
Low-flowfaucetsandshowerheads:Watersavingsof25-60%.
SealingandinsulaGng:Saveupto$250/year
ENERGYSTARheaGngandcoolingequipment:Saveupto$115/yearon
energycosts
thebenefits:ROI
SecuredEnergyLoan UnsecuredEnergyLoanLoanAmount
AbcinsulaGon:$2,000ENERGYSTARfixtures:$1,500Airsealing:$1,500ENERGYSTARA/C:$5,000ENERGYSTARfurnace:$5,000TotalLoan:$15,000
AbcinsulaGon:$2,000ENERGYSTARfixtures:$1,500Airsealing:$1,500ENERGYSTARA/C:$5,000ENERGYSTARfurnace:$5,000TotalLoan:$15,000
RepaymentTerm
10years 10years
InterestRate
4.99% 4.99%
MonthlyPmt
$159.02 $159.02
theexample
SecuredEnergyLoan UnsecuredEnergyLoan
CurrentPropertyValue $115,000 N/A
CurrentMortgage $119,000 N/A
½ofProposedProject $7,500 N/A
ProposedProjectCost $15,000 $15,000
AherImprovedValue% 109.38% N/A
Max.AberImprovedValue:110.00%
WorksinnegaSveequitysituaSon
theexample
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____ofhome
improvementsover$5,000arefinanced
50%
ourpartnerships
1. Helpyouincreaseyourbusiness2. Helphomeownersdecreaseenergycosts
LendersUSlityCompanies
Homeowners
Contractors
