August 25, 2009
Contacts:
Chris Tryba, Hoosier Energy (812) 876-0337
Hoosier Energy awarded $5.1 million stimulus fund grant to improve energy efficiency of 800 homes
Hoosier Energy and its member electric cooperatives are preparing to assist more than 800 households in 13 central and southern Indiana counties with energy conservation and weatherization as part of the state's recent distribution of federal stimulus funds.
The Indiana Housing and Community Development Authority announced that Hoosier Energy has been selected to receive approximately $5.1 million in stimulus funds to complete an average of $5,000 in weatherization projects at eligible residences. The U.S. Department of Energy announced approval of the Indiana weatherization program on August 21.
Efficiency improvement measures may include weather stripping, caulking, sealing of ducts, insulation, heating and cooling equipment tune-ups, installation of efficient light bulbs, low flow showerheads and faucet aerators and other improvements.
Homes approved for weatherization will have an audit of energy efficiency needs prior to improvement installations. A follow-up audit will measure the effectiveness of improvements. The program targets a 20 to 30 per cent reduction in household energy usage.
Hoosier Energy supplies power and related services to 17 electric cooperatives (REMCs/RECs) in central and southern Indiana.
President and Chief Executive Officer Steve Smith noted "Electric cooperatives have a long history of working with consumers to use energy wisely. These funds will expand our existing programs to help families manage energy use and costs, provide years of energy savings and benefits, and create jobs in Indiana. Hoosier Energy and its cooperative members are pleased to be part of this state initiative that will have lasting value for consumers."
The electric cooperative will work with Sherlock Homes, a Bloomington company with more than 30 years of experience in weatherization projects for Indiana homes.
Consumers who do not meet weatherization program requirements may be eligible to receive federal income tax credits of up to $1,500 for the cost of qualified efficiency improvements in existing homes in 2009 and 2010. The tax credit can offset costs of efficiency upgrades ranging from replacing windows, doors and insulation to installing an energy-efficient heat pump.
Renewable energy tax credits are also expected to be available for investments in geothermal heat pumps, solar water heaters and other green technologies. Credits may be available for 30 percent of the cost for eligible projects completed on homes between 2009 and 2016. Additional information about tax benefits is available on the IRS web site.
Brown, Dubois, Gibson, Harrison, Jennings, Lawrence, Martin, Morgan, Pike, Rush, Scott, Spencer and Union counties are included in the Hoosier Energy weatherization project.
Additional information is available in Indiana's August 27, 2009 press release: "State energy conservation stimulus program approved."