Green Finance
Mission:
To provide residents, builders and local government with practical information on how to finance sustainability projects. Identify federal, state and local incentives, rebates and programs as well as financial and commercial institutions which provide financing, mortgages, and appraisals.
Why Green Finance:
Many people mistakenly believe that they can’t afford to practice sustainability. Although the initial cost of some products may be higher than their conventional counterparts, the cost is significantly less over the lifetime of the products. That cost is further reduced when residents take advantage of tax incentives, rebates and attractive financing programs.
Sustainability saves money on energy, health and the environment.
Green Finance Possibilities:
- Examples of a tax incentive: The 2005 Federal Energy efficiency heating and cooling equipment. The maximum homeowner credit for all improvements combined is $500 during the two-year period of the tax credit.
- Example of an energy-efficient mortgage (EEM): Monthly savings resulting from energy efficiency can be used to qualify borrowers for a larger mortgage. Lenders recognize that the monthly living costs are substantially lower in an energy-efficient house. The EEM allows for the projected energy savings to provide an adjustment to the loan-to-value and to stretch debt-to-income qualifying ratios for the borrower.
Green Finance Goals:
GLEE wants to help residents, builders and local government find the financial means to make sustainability a reality for as many residents and businesses as possible.
What You Can Do: Learn, Implement, Participate:
- Learn how to make your home more energy efficient.
- Talk to your electric cooperative about an audit.
- Learn about tax credits, rebates and incentives.
- Take advantage of energy financial incentives.
- Join GLEE!
