Maryland

Incentives/Policies for Renewables & Efficiency

Home Energy Loan Program

Last DSIRE Review: 12/11/2012

Program Overview:

State:	Maryland
Incentive Type:	State Loan Program
Eligible Efficiency Technologies:	Water Heaters, Furnaces , Boilers, Heat pumps, Central Air conditioners, Energy Mgmt. Systems/Building Controls, Caulking/Weather-stripping, Duct/Air sealing, Building Insulation, Comprehensive Measures/Whole Building, Custom/Others pending approval
Applicable Sectors:	Residential
Amount:	Loans from $1,500 - $30,000
Maximum Incentive:	$30,000
Terms:	Rates: 6.99% (with audit), 9.99% (no audit, Energy Star HVAC only) Repayment Term: Up to 10 years
Funding Source:	American Recovery and Reinvestment Act of 2009
Start Date:	January 2011
Web Site:	http://www.mcecloans.com/

Summary:

Note: The eligible technologies listed above are only examples of some improvements that might be supported under this program as detailed on the program web site. Other improvements may be eligible and not all potentially eligible improvements will be appropriate for all participants.

The Maryland Energy Administration (MEA) joins the Maryland Clean Energy Center (MCEC) in offering low interest loans for projects which increase the energy efficiency of participating residences. Loans from $1,500 to $30,000 are available at an interest rate of either 6.99% or 9.99%. Property must be an owner-occupied primary residence located in the state of Maryland in order to be eligible. Single-family detached homes and townhouses are eligible for loans while condominiums and coops are unable to participate.

In order to qualify for the 6.99% interest rate, homeowners must have a complete home energy audit to determine the scope and cost of potential projects. Auditors must be MCEC approved and certified. Based upon the audit findings, homeowners may determine the most effective energy efficient measures to pursue. Typical measures include air sealing, insulation and HVAC equipment upgrades but are not necessarily limited to these improvements. Participants must then enter a contract with an approved contractor indicating the measures and costs included. After the completion of a contract, participants may register and apply for loans through MCEC. The 9.99% interest rate option is available for the replacement of existing HVAC equipment with Energy Star qualified equipment. This option does not require the homeowner to receive an energy audit.

Interested homeowners may register and apply at MCEC web site listed above or contact MCEC for further information on this program.

Contact:

Terry Daly
Maryland Clean Energy Center
1212 West Street, Suite 200
Annapolis, MD 21401
Phone: (443) 949-8456
E-Mail: terryd@mdcleanenergy.org
Web Site: http://mdcleanenergy.org

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.

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