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What does EZ stand for?
What do energy efficient improvements include?
Why does Annapolis EZ|Energy Zone fund energy efficiency projects?
Why should I get an energy audit?
Are there limits to the number of people who can participate?
I don't live in Annapolis; can I still apply for funding from Annapolis EZ|Energy Zone?
Do I qualify for the program?
How much will I pay if I choose to participate?
What if the property owner does not pay the Carbon Reduction Fee?
Are there any up-front costs?
What happens if I sell my property?
Is there a minimum amount of improvements that I can fund?
Will financing through the Annapolis EZ|Energy Zone affect my credit?
What does EZ stand for?
Energy Zone. But even more importantly, EZ stands for "easy" because the program makes it easy for property owners to make their homes energy efficient.
What do energy efficient improvements include?
Energy efficient home improvement recommendations include projects that can be added to the property to conserve more energy, such as: sealing air leaks and adding insulation, improving ductwork and duct sealing, installing energy-efficient windows, improving the home's heating and cooling systems, or adding an HVAC.
Why does Annapolis EZ|Energy Zone fund energy efficiency projects?
In many circumstances, the most cost effective way to reduce a home's energy costs is to improve the efficiency of the building. Annapolis EZ|Energy Zone recommends financing for energy efficiency projects before getting financing for renewable energy projects when the energy audit shows that improving the energy efficiency of a building will reduce the energy use by 10% to 50%.
Why should I get an energy audit?
Every year, Americans spend lots of money on energy wasted through holes and leaks in their home. An energy audit will help property owners understand their energy usage and give a personalized set of recommendations to lower their energy bill.
Are there limits to the number of people who can participate?
During the first phase, Annapolis EZ|Energy Zone will fund up to 50 projects in Annapolis. The program will be evaluated during this phase, and the next round of available funding will be determined.
I don't live in Annapolis; can I still apply for funding from Annapolis EZ|Energy Zone?
Only residential properties located in the City of Annapolis that pay property taxes to the City are eligible for funding. Annapolis property owners do not have to live in Annapolis to apply.
Do I qualify for the program?
The Carbon Reduction Energy Fee is a special assessment on the property which ranks senior to the first mortgage. The property owner must notify any lenders that carry a mortgage on the house of their participation in the EZ program. The property owner must not have any notices of default on their mortgage or property taxes; no tax liens as a result of a failure to pay taxes within the past year. Property owners applying for funding from the EZ program must agree to the terms of the program and sign the required EZ program documents.
How much will I pay if I choose to participate?
The repayments through the Carbon Reduction Fee are calculated based upon (a) the cost of the energy project installed in the home, (b) the interest rate, (c) administrative charges
What if the property owner does not pay the Carbon Reduction Fee?
The Carbon Reduction Fee, like a property tax, will be secured by a lien on the property. Failure to pay property taxes can lead to the foreclosure of a property in order to collect delinquent taxes and fees.
Are there any up-front costs?
The home owner will pay up front for the energy audit. This audit is approximately $400. If the property owner moves ahead with the recommendations based on the energy audit within six weeks of the energy audit, Annapolis EZ|Energy Zone is able to roll the cost of the energy audit into the loan. Once the installations are complete, the property owner will receive a check for the cost of the energy audit. It is important that property owners keep all receipts.
What happens if I sell my property?
The special Carbon Reduction Fee will remain as an obligation of the property when the property is sold. If the owner sells the property prior to the end of the loan period, the new owner can take over the Carbon Reduction Fee as part of the obligation on the property. The energy installations and systems are part of the property, and ownership of the energy system will transfer to the new owner at the close of the real estate sale.
Is there a minimum amount of improvements that I can fund?
Annapolis EZ|Energy Zone does not finance projects under $5,000.
Will financing through the Annapolis EZ|Energy Zone affect my credit?
No! The opportunity to attach energy financing to the property allows property owners to get financing without affecting their credit scores.
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