$10 Million in Rebates Available to Virginia Home Owners and Small Businesses

377615_money_shotLieutenant Governor Bill Bolling, Virginia’s Chief Jobs Creation Officer, today announced on behalf of Governor Bob McDonnell that effective today, March 22, 2010, $10 million in rebates will be available to help home owners and small businesses reduce their energy costs and harness energy from the wind and the sun. This is a continuation of the energy efficiency and renewable energy rebates made available last October.

“I encourage Virginians to take advantage of this opportunity to lower their energy costs and create jobs,” said Lieutenant Governor Bolling. “An energy efficient home or business will continue for years to save money. And both of these popular programs help to provide jobs for the workers who make the improvements or install the renewable energy systems.”

The first round of funding for efficiency and renewable energy rebates totaling about $20 million was sold out in less than three weeks when the programs opened in late October.

Approximately $6.5 million will be available for a second round of the Virginia Energy Efficiency Rebate Program to make homes and businesses more energy efficient. Energy efficiency improvements include upgrading heating and air conditioning equipment, adding insulation, replacing leaky windows, and other improvements that reduce energy consumption and utility costs. Homeowners are eligible for rebates for 20 percent of the costs of qualifying energy conserving products and services, up to $2,000. Commercial consumers are eligible for 20 percent of their costs, up to $4,000.

An additional $3.5 million will fund a second round of the Virginia Solar and Wind Incentive Program, which defrays the costs of solar electric, solar thermal, and small wind energy systems for residents, businesses, and non-profits.

Applicants can reserve a rebate for a qualifying system and then have six months to complete the work and redeem their reservation for a rebate check. Applications for rebate reservations will be processed in the order they are received. Once reservations deplete available funds, applications will be placed on a wait list in the order received. Wait-listed applicants may be approved for rebate reservations if additional funds become available.

The rebate programs are administered by the Department of Mines, Minerals and Energy, using funds from the American Recovery and Reinvestment Act. Rebates can be reserved in on-line applications available at the website of the Department of Mines, Minerals and Energy. The website also has information on the rules of both incentive programs.

Lieutenant Governor Bolling noted that many Virginians also might qualify for the federal Home Energy Efficiency Improvement Tax Credit Program, which provides a 30% tax credit, up to $1,500, for some residential energy conservation products. Qualifying products include energy-efficient windows, insulation, doors, roofs, and heating and cooling equipment in existing homes. More information on the federal tax credits, which are available until December 31, 2010, is available at www.energystar.gov.

More information on the Virginia Energy Efficiency Rebate program and the Wind and Solar Incentive program is available online at www.dmme.virginia.gov.

via Lt. Governor Bill Bolling.