About the Program
Running the Numbers:
| Items | Cost |
| Cost of Efficiency Measures | $3500 |
| Cost of Pellet Stove | $3500 |
| Total Cost | $7000 |
| Cost Reductions* | |
| Federal Tax Credit | -$500 |
| Rebate from Pilot Program | -$500 |
| Total Reductions | -$1000 |
| Low-Interest Loan Needed | $6000 |
| Annual Energy Savings | $900/yr |
| Annual Payment on Loan** | $695/yr |
This is an average example. Some rates may be higher, some lower. Some homeowners may qualify for a 50% subsidy off the total price.
* Other grants may be available
** Rate for a 10-year 3% $6000 loan
If you currently heat with propane (LPG) or fuel oil, we have a program that could save you money. Cornell Cooperative Extension of Tompkins County and Ithaca Neighborhood Housing Services have partnered to pilot a program to see just how much the combination of weatherization and switching from oil or LPG to wood pellets can save the average homeowner--but we know it's a lot!
The Process
- Starting with an energy audit, certified contractors will identify home retrofits that will result in your biggest energy savings. We can help you find a certified contractor.
- When you are ready to have the work done, we can offer you a 5- to 10-year loan with 3% interest rates—low enough that your loan payments will be less than what you are saving through this program. If you’ve already had energy-efficiency work done on your house, you may still qualify for the next steps...
- You will receive a $500 rebate on a new pellet stove, professional advice to make sure it is sized appropriately for your needs, and follow-up consultation on its use and care for one year.
- You will have the opportunity to receive delivery of bulk or bagged pellets at a guaranteed below-market price for up to two years.
- You will have access to knowledgeable, experienced staff from INHS and CCETC to work with you every step of the way.
We know the savings can be significant, but we need you to help us find out just how big!
You Qualify If:
- Your home is heated with oil or liquid propane gas (LPG)
- You own your home or are a tenant in a home where the owner would agree to this program (and the rental unit is attached to the owner’s residence)
- You are willing to have information about your heating energy use shared with other homeowners in Tompkins County
Together, we can make a BIG impact!
The project has great potential for savings across the county, and the region. In Tompkins County alone, there are about 8,000 houses that heat with LPG or heating oil. CCE estimates that if all of these houses were retrofitted, residents would save about $7.5 million a year. The impact is greater across New York and in New England, where there are more than a million homes that fit in this category.
We are still looking for more participants for the pilot project. If you or someone you know is interested, contact Guillermo Metz, Green Building & Renewable Energy Program Coordinator: 272-2292, x185 or gm52@cornell.edu.
