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Alaska

Alaska

Incentives/Policies for Renewables & Efficiency

Printable Version
Energy Efficiency Interest Rate Reduction Program   

Last DSIRE Review: 11/13/2014
Program Overview:
State: Alaska
Incentive Type: State Loan Program
Eligible Efficiency Technologies: Comprehensive Measures/Whole Building
Applicable Sectors: Residential
Amount:New Homes: Rate reduction of .25% - .50%
Existing Homes: Rate reduction of .125% - .375%
Existing Homes with Energy Improvements: Rate reduction of .125% - .750%
Homes with access to natural gas: Rate reduction is .125% less than rate reduction for homes without access to natural gas.
Maximum Incentive:Rate reduction applies to first $200,000; after this amount, a blended interest rate applies.
Web Site: http://www.ahfc.us/buy/add-options/energy-efficiency-rate-reducti...
Summary:

The Alaska Housing Finance Corporation (AHFC) offers interest rate reductions to home buyers purchasing new and existing homes with 6 Star and 5 Star Plus energy ratings. All homes constructed after 1992 must meet the AFHC Building Energy Efficiency Standard (BEES). Rate reductions are also available for energy improvements to older, existing home purchases. Any property that can be energy rated and is otherwise eligible for AHFC financing may qualify for this program.

For new and existing home purchases that are rated 6 Star or 5 Star Plus, applicants are eligible for an interest rate reduction for the first $200,000 of the loan amount, with a blended interest rate applying to the remainder of the loan amount. The rate reductions are dependent on a property's access to natural gas and the energy rating of the home. Homes without access to natural gas receive a greater interest rate reduction than homes with access to natural gas. 

For homes that have energy improvements, a rate reduction is available for applicants, based on the number of steps of improvement to the energy rating of the property. An applicant should have the lender contact AHFC to inform them that the borrower intends to participate in the rate reduction program. After loan closing, energy improvements should be completed within one year. After an energy rating has been completed, AHFC will modify the interest rate accordingly. The program is available through AHFC-approved lenders.


 
Contact:
  James Ord
Alaska Housing Finance Corporation
P.O. Box 101020
Anchorage, AK 99510-1020
Phone: (907) 330-8446
Fax: (907) 338-9218
E-Mail: jord@ahfc.us
Web Site: http://www.ahfc.us/
NCSU - home
Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.

While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.

Copyright 2013 - 2014 North Carolina State University, under NREL Subcontract No. XEU-0-99515-01. Permission granted only for personal or educational use, or for use by or on behalf of the U.S. government. North Carolina State University prohibits the unauthorized display, reproduction, sale, and/or distribution of all or portions of the content of the Database of State Incentives for Renewables and Efficiency (DSIRE) without prior, written consent.