Minnesota Housing Announces $2 Million for Energy Saver Rebates

Rebates Up to $10,000 Available with Home Improvement Loans for Energy-Saving Improvements

SAINT PAUL, MN (09/29/2010)(readMedia)-- Minnesota Housing announced $2 million of additional federal funds today for energy saving improvements in conjunction with the agency's home improvement loans. This is the third funding phase of this popular energy saving program and funds are expected to be used quickly. The program begins September 30 and interested homeowners can contact a Minnesota Housing lender partner to apply.

Qualified homeowners can receive a rebate of 35 percent of the cost (up to $10,000) for eligible improvements financed with a Fix-up Fund loan. Eligible improvements include high efficiency furnaces, boilers and central air conditioners, Energy Star replacement light fixtures, insulation in conjunction with air sealing, and water heaters if "orphaned" due to furnace replacement. Energy Star replacement windows and replacement exterior doors now qualify for a 25 percent rebate of costs financed with a Fix-up Fund loan.

"The Energy Saver Rebate program has created jobs and leveraged more than $15.5 million in energy saving improvements, and I'm grateful for our partnership with the Minnesota Department of Commerce, Office of Energy Security that has made the program possible," said Dan Bartholomay, Commissioner of Minnesota Housing. "I am pleased to offer this opportunity to lower energy costs as winter approaches."

The unreserved rebate program is designed to help homeowners with household incomes up to $96,600 improve home energy efficiency. Owner-occupied single family, condominium, duplex, triplex, or fourplex homes are eligible for the program. The Minnesota Housing Fix-up Fund offers affordable, fixed-rate loans to homeowners to make home improvements.

The rebates are funded with federal stimulus funds through a $2 million grant from the U.S. Department of Energy and the Minnesota Department of Commerce. To date, nearly 1,400 homeowners have received $4.8 million in Energy Saver Rebates.

Interested homeowners can visit www.mnhousing.gov for more information about participating Fix-up Fund/Energy Saver Rebate lenders or call 800.710.8871. To learn about the benefits of this program, view a story from an Energy Saver Rebate recipient here.

Minnesota Housing is a state agency committed to finance and advance affordable housing opportunities for low and moderate income Minnesotans to enhance quality of life and foster strong communities. The agency invests more than $1.4 billion in affordable housing each biennium. If ranked among commercial banks, it would be the sixth largest bank in the state, with total assets of $3.6 billion as of June 30, 2010.