Burn Wise
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Berkley, CA, funds solar panels for homeowners with a Voluntary Environmental Improvement Bond. In its first year, over 40 homeowners have elected to repay the loan over 30 years through property tax assessments.
Pendleton, OR, has replaced 134 through a low interest loan program backed by a HUD Block Grant.
Routt County, CO, has replaced over 400 older burning wood stoves using funds from a $250,000 state environmental project settlement.
The states of Idaho, Montana, and Oregon offer tax incentives for residents who purchase certain wood-burning appliances.
EPA is working with several state and local agencies to help promote the most favorable financing terms for homeowners to purchase cleaner-burning appliances. The federal government and several states are offering tax credits that allow tax payers to deduct a specified amount from their taxes for buying a cleaner-burning appliance. Many local governments are considering finance concepts, such as voluntary environmental improvement programs, to reduce air pollution and make cleaner burning appliances affordable for homeowners.
Federal Tax Credit
- Provides 30 percent (up to $1500) for the purchase of a qualified biomass-burning stove or fireplace insert between January 1, 2009 and December 31, 2010.
- Any wood- or pellet-burning stove that meets the 75 percent efficiency rating qualifies.
- Professional installation costs are included as long as installation is required for the proper and safe operation of the stove.
- Learn more by visiting EPA's Energy Star FAQs.
Supplemental Environmental Program (SEP)
- Environmentally beneficial project that a violator of an environmental law voluntarily agrees to undertake in the settlement of a civil enforcement action.
- Improves the environmental health of a community (or communities) that have been put at risk due to a violation of an environmental law.
- An effective way to leverage resources that can make significant impacts on public health and the environment. See Guidance for Using State Environmental Projects to Implement Wood Stove Changeout Programs (PDF) (24pp, 100k, About PDF)
Voluntary Environmental Improvement Bonds
Several areas have implemented voluntary environmental improvement bonds to finance energy saving programs for homeowners. EPA does not offer these bonds, but encourages areas to consider them when looking for tools to finance changeouts.
- Allows homeowners to use property as collateral for a loan.
- No upfront costs to the homeowner.
- May require state enabling legislation.
- For more details, see “Voluntary Environmental Improvement Programs” or view EPA's Innovative Financing Tools presentation (PDF) (5pp, 59k, About PDF)
American Reinvestment and Recovery Act (2009)
Projects may be funded as community and infrastructure programs; including weatherization projects. Most of the ARRA funding has been released to state agencies. Talk with your local or state ARRA contact or visit ARRA’s website for more information on how these funds can be used in your area.