Financial Incentives
Financial Incentives to Customers
Home Performance with ENERGY STAR® offers financial incentives on improvement packages. The more energy savings measures you decide to install, the greater the incentive you will receive. The table below breaks down the incentive level you can receive based on the comprehensiveness of the work performed.
|
Incentive Tier |
Requirements |
Customer Incentive |
|
Tier 1 |
Installs at least 2 of the following measures: air sealing, insulation HVAC upgrade/replacement, distribution systems, domestic hot water, ENERGY STAR appliances, mechanical ventilation (windows, doors and light bulbs are not eligible measures for this Tier) |
5.99% loan or 10% cash to consumers, up to $2,000 |
|
Tier 2 |
Installs at least 3 energy savings measures and package has SIR ≥ 1.0 |
3.99% loan or 20% cash to consumer, up to $4,000 |
|
Tier 3 |
Installs a comprehensive package, including all recommended energy savings measures, with a cumulative SIR ≥ 1.0 | 50% cash rebate, up to $5,000 |
What does SIR mean?
SIR stands for Savings to Investment Ratio. It is a calculation that compares the present value of the savings to the initial cost of energy efficiency measures over the lifetime of the measures. An SIR of 1.0 or above means the measure or the recommended improvement package will pay for itself over its lifetime.
Please click here for more financial incentive information.
Please contact 1-866-NJSMART for more details.
All of our forms are saved in a Portable Document Format (PDF). Feel free to view or print these files using Adobe Reader®.
