Welcome to the Norwich Energy Committee’s 2013 Weatherize Norwich Campaign Photo by Derek Thomas

Tonight’s Topics 1.What is Weatherize Norwich? 2.Why promote weatherization? 3.How does it work? 4.Testimonials 5.Financing options 6.Q & A

What is Weatherize Norwich? Name of Norwich’s participation in state-wide “Vermont Home Energy Challenge” organized by Efficiency Vermont (EVT). Goal: have 3% of Norwich residences weatherized in That translates to 44 residences, whether owner-resident or rental. Qualifying weatherizations must go through EVT’s “Home Performance with ENERGY STAR” program. Potential for Norwich to win $10,000 from EVT.

Why weatherize? For the Individual Reduce your energy bills.  Average savings of $750 - $1,000 per year  Money not spent on fossil fuels more likely to stay local Improve health of your home. Increase your comfort. Reduce carbon emissions.  Average reduction of 25% of heating fuel consumption

Why weatherize? For the Community Goals established by legislature to deal with climate and energy 1.Weatherize 25% of Vermont’s year-round residences (80,000 homes) by year 2020  At current rate of weatherization, won’t happen until year % of all energy used in state from renewable sources by year 2050  Not possible unless demand for energy falls at same time as conversion to renewable sources

Why weatherize? For the World Current path of carbon emissions means we will go far beyond 2  C (3.6  F) increase in average temperatures, the limit usually cited as maximum non-disastrous increase. Vigorous action required at all levels of society, from policy to personal lives.

Home Performance with ENERGY STAR: The Process 1.Get a “home performance audit” from EVT authorized contractor. 2.Using audit report, decide what weatherization work to pursue. 3.Get weatherization work done by EVT authorized contractor. 4.Have “test out” to confirm improvement. 5.Receive incentive rebates from EVT.

Home Performance with ENERGY STAR: The Costs Audits normally $300 - $500, depending on house.  EVT now providing $100 up-front discount  Some contractors offering additional discounts Average weatherization work: $8,000.  Ranges widely—you can do work piecemeal over time and still benefit from EVT incentives  Some work can be done by home owner Average rebate incentive from EVT: $1,300 ($2,000 max) Federal tax credit for weatherization: $500 (max) Typical payback—ignoring Federal tax credit—6- 7 years and return-on-investment of 11 – 15%.

“It worked for us!” Examples of your neighbors who have gone through Home Performance with ENERGY STAR. Photo by Bobby Magee

Liz Blum & Nelson Kasfir, Cliff St. Air sealed attic. Insulated attic.  Air leakage reduced by %  Projected heat energy savings 22.48%  Cost of job $1,820  EVT incentives $960  Net cost to homeowner $860  Projected annual savings..... $405  Payback period/ROI / 47.1%  Projected annual reduction CO2 4,001 lbs.

John Leigh & Eydie Pines, Hopson Rd. Heating system upgrade. Air sealed basement, crawlspace, boiler room, attic. Insulated basement.  Air leakage reduced by %  Projected heat energy savings 22.88%  Cost of job $11,148  EVT incentives $999  Net cost to homeowner $10,149  Projected annual savings..... $1,066  Payback period / ROI years / 10.5%  Projected annual reduction CO2 4,264 lbs.

Jonathan & Wendy Teller-Elsberg, Church St. Air sealed attic hatches. Air sealed basement. Insulated basement.  Air leakage reduced by %  Projected heat energy savings 13.26%  Cost of job $2,635  EVT incentives $520  Net cost to homeowner $2,115  Projected annual savings..... $428  Payback period / ROI years / 20.2%  Projected annual reduction CO2 2,384 lbs.

Financing Weatherization Out of pocket Home equity loan or line of credit Unsecured, personal loan  Some lenders offer preferable rates for energy efficiency improvements PACE – Property Assessed Clean Energy  Revised schedule: up and running by April 2013 (?)  Loan attached to property—if you sell, new owners assume responsibility  Repayment through line-item add-on to property taxes

Sample Financing Scenario (using actual loan terms from local lender as of Feb 2013) Average net cost of weatherization is $6,700 Average projected annual savings approx $875, so average monthly savings of approx $73 (assuming stable fuel prices) If financed with 10-year 5.25% loan, monthly payments are $71.89 If financed with 15-year 6.25% loan, monthly payments are $57.45 – immediate cash flow gain of approx $15/month

To Do… 1.Fill out EVT survey available here. 2.Choose a contractor and get your audit done ASAP! 3.Follow up with weatherization before Fall/Winter crunch. 4.Spread the word. 5.Volunteer short term with Weatherize Norwich campaign or join Norwich Energy Committee to support all our efforts. 