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...good news for the economy, for homeowners and businesses and for the environment. The New York Legislative body passed landmark bills this past session. One piece of legislation, Power New York of 2011, will be a tremendous boon for local energy businesses that specialize in retrofits.
Going forward, homeowners will be able to finance energy efficient measures through their utility bill. Energy efficiency measures like air sealing, solar hot water and insulation will make your home more comfortable and less dependent on fossil fuels. You will save a good deal of money on your utility bill (both heating and electric) by taking these measures.
We do not have a ton of information on the new legislation or its implementation, but you can find info on existing financing programs here:
http://www.getenergysmart.org/SingleFamilyHomes/ExistingBuilding/HomeOwner.aspx
The plan is to for you take a loan for energy retrofits made to your home. You can then pay off your loan via your utility bill. The payoff amount will be less than the savings incurred as a result of the retrofit, putting you in a cash positive position from day one. Once the loan is paid off, you reap the full rewards of the utility cost savings.
The legislation runs in tandem with the Green Jobs-Green New York Act, which has a goal of 1,000,000 million homes made energy efficient across the state. Some estimates have job creation around 14,000 permanent jobs as a result.
All this and you help save the environment because less energy will be consumed from burning fossil fuels.
