Bay Realty Blog: Alaska Housing Finance Corporation Suspends Home Energy Rebate Program

Alaska Housing Finance Corporation Suspends Home Energy Rebate Program

BayRealtyAlaska.com

 

The Alaska Housing Finance Corporation has announced the Home Energy Rebate Program is to be suspended in March. The waitlist is extended to March 25, 2016. It will take about a year to phase out the program.

 

The energy rebate program has helped many families and home owners in Alaska upgrade their home to energy efficient homes to save money in heating costs and was quite good in saving air quality and overall use of fossil fuels. It was also used as an incentive to build new 5 Star plus energy efficient homes. Rebates were given to the buyers of these homes. A 6 Star level was just introduced last year.

According to AHFC Press Release “24,560 families completed improvements and received rebates averaging $6,463. An additional 3,248 families built new construction and received rebates up to $10,000 for building to the highest efficiency level recognized -- currently, six stars.”

Independent studies by the University of Alaska’s Institute for Social and Economic Research, Cold Climate Housing Research Center (CCHRC) and others have shown increased technical job skills and the program saved an equivalent of 18,104,968 gallons of No. 2 fuel oil, buoying local economies and helping to bridge the natural gas shortfall experienced in Southcentral during the brownout practices in 2009 and 2010.”

 

This program was nationally recognized as a proactive approach to saving money and use of fossil fuels to heat homes. It is a real shame they are cutting this program.

 

Alaskans who are currently on AHFC’s waitlist can check the status of their application online. New participants have time to sign up at www.ahfc.us or by calling 1-877-257-3228 during normal business hours until March 25.

    Bay Realty

When You Need Results Bay Realty Works!

     Invest in Your Future Now... Call 907-235-6183

   Search our website at www.BayRealtyAlaska.com   

     Email us at Debra@BayRealtyAlaska.com

        Or Debral@ptialaska.net

Comment balloon 3 commentsDebra Leisek • February 26 2016 01:13AM

Comments

Good morning Debra. It is unfortunate that a program like this gets phased out, I'm sure it benefited many.

Posted by Joe Petrowsky, Your Mortgage Consultant for Life (Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709) about 2 years ago

Debra Leisek Perhaps they want to wait to see if there is any further need then reissue a new modified program? It appears it has helped many.

Posted by Sandy Padula and Norm Padula, JD, GRI, Presence, Persistence & Perseverance (Realty One Group) about 2 years ago

Hello Joe Petrowsky  yes it is part of what we are going through right now with the state cutting spending without thinking longterm benefits. It did benefit people greatly

There is some hope that by the time they get to the phase out part they will reinstate the entire program Sandy Padula and Norm Padula, JD, GRI 

thank you both!

Posted by Debra Leisek ( Bay Realty,Inc Homer Alaska) about 2 years ago

This blog does not allow anonymous comments