Progress Energy Offering Home-Building Incentives
Progress Energy Carolinas has launched a program to encourage homebuilders to adopt energy-efficient building practices in the new homes they construct.
The Home Advantage program provides incentives to residential builders to construct new homes that meet or exceed U.S. EPA Energy Star energy-efficiency standards.
Energy Star-certified homes provide customers with at least 15 percent greater efficiency than standard homes. Homeowners also receive a 5 percent Progress Energy discount on their monthly bill for the life of the home.
Home Advantage provides cash rebates to builders or developers who build new single-family, multi-family, high-rise multi-family dwellings and manufactured homes that meet Energy Star requirements. Extra incentives are also available for additional energy efficiency measures added to the Energy Star home, as well as for advertising and sales support in promoting energy-efficient construction.
"It's much more cost-effective to build efficiency into homes from the start, so the goal of Home Advantage is to provide additional incentives to builders to invest in higher efficiency standards," said Hal Lowrance, Progress Energy's manager of residential energy efficiency. "Energy-efficient homes are in demand. And our program provides incentives to builders to make those lasting investments that can save customers money, provide greater comfort and help protect the environment by using less energy."
Progress Energy will provide a $400 cash incentive to a builder or developer for each Energy Star home they construct under the program.
Manufactured home builders will receive a $300 rebate per certified home and retail sales lots will receive $100 for each Energy Star home sold. Incentives can be increased if the builder installs higher efficiency heating and cooling equipment. The rebates will help offset the cost of third-party Energy Star certification. The incentives will also encourage homebuilders to promote energy efficiency to their customers.
"This new program from Progress Energy is a reinforcement to us as an Energy Star builder and adds to what we're trying to achieve by building high-performance homes," said Stephanie Ware, director of marketing for Cary-based Vanguard Homes and Anderson Homes. "It's going to help Energy Star become more achievable in homes as customers realize how conserving energy enhances their ability to live less expensively."
In many cases, investing in energy efficiency at the time of construction can result in immediate net savings when considering both the total monthly costs of utility bills and monthly mortgage payments.
For example, an investment of $1,500 in energy-efficient upgrades made on a $200,000 home at the time of construction can provide more than $260 a year in energy savings while adding only about $9 per month to the mortgage payment.
Energy-efficient enhancements can also provide greater home comfort for the occupant, resulting in higher customer satisfaction and lower call-backs for home builders.
Home Advantage is currently available to builders and developers in North Carolina for new residential construction located within Progress Energy Carolinas' service territory.
Information on Home Advantage and the incentives available to builders can be found on the Web site at www.progress-energy.com/carolinasha or by calling (800) 327-8704 toll-free.
More like this story