Home Energy Rebate Program to be suspended effective March 25, 2016
More than 40,000 Alaskans participate in Home Energy Rebate Program
ANCHORAGE, ALASKA, Feb. 24, 2016 Alaska Housing Finance Corporation (AHFC) today announces the closure of the waitlist to new participants in the Home Energy Rebate program. The closure of the waitlist is effective at 5 p.m. on Friday, March 25, 2016.
AHFC was selected by the Alaska Legislature in 2008 to administer the program to eligible families seeking to improve the energy efficiency of their homes. To date, 40,010 families received an initial rating measuring the performance of their home. Of those, 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.
As the state responds to its fiscal challenges, AHFC's board of directors and staff have also sought to improve the financial performance of the agency by increasing revenues and decreasing expenses appropriately. The Home Energy Rebate and New Home Rebate programs are entirely funded by the state through the capital budget. In total, it has contributed $252.5 million.
Alaskans have benefited from an investment made by our lawmakers, says Bryan Butcher, CEO/executive director of AHFC. 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.
Families 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.
Home Energy Rebate/New Home Rebate rules for participation are summarized below. Full details are available on AHFC's website.
- Owner-occupied homes by year-round residents are eligible to participate;
- Homeowners can participate a second time if they moved into a new primary residence after two years from the date of their last rebate check;
- Upon dispatch for an as-is rating, up to $10,000 will be obligated for their rebate subject to performance standards;
- The family has 18-months to complete the work before submitting paperwork which includes proof of payment for supplies and work, and a post-rating verifying increased energy efficiency;
- The rebate is subject to tax by the U.S. government. Participants will receive a Form 1099.
Alaska Housing Finance Corporation (AHFC) is a public corporation with a long history of providing Alaskans access to safe, quality and affordable housing through home financing programs, energy efficiency and weatherization programs, public housing and more. Since 1986, AHFC has contributed $1.9 billion to the State of Alaska's General Fund.