Still Time Left For NJ Homeowners! NJ Home Performance Program Modifies Incentives for 2016

The New Jersey Board of Public Utilities recently approved changes to the New Jersey Home Performance with Energy Star (NJ HPwES) Program for the 2016 Fiscal year at its June Board Agenda meeting. Changes include reductions in rebates, reductions in terms of loans, and increases in loan interest in some cases from 0% to 4.99%.

These take effect August 1st, 2015. But there is still time for home owners to lock under the current program, which expires on July 31st, 2015.

Eligible measures under the home improvement program include new heating, cooling systems, insulation and oil-to-gas conversions. Many customers can get a complete energy makeover for no or little money down. This NJ program is considered the most generous in the entire nation.

Homeowners should call Building Sciences LLC at 973-786-3700 or a participating contractor listed on the NJ Clean Energy website. Details about the current program are available here.

While the changes do reduce the incentives, going forward, they are still very generous and make the HPwES program incredibly affordable to homeowners, especially those living in older, less efficient homes. With half the cost covered by the program and energy bill savings of over 25%, most jobs pay for themselves in just a few years.

Building Sciences LLC of Short Hills has completed over 700 HPwES jobs in in the last three years, the most of any contractor in Northern NJ. When reached for comment, their President Rashid Burney said, “We’re obviously a bit disappointed at the lowering of the incentives of the program. However, we still believe that the HPwES program is a no-brainer for NJ homeowners. The return on investment for our jobs is well documented and as of the writing of this press release, there is still time to lock into the current program.”