2024 Home Energy Project Reference

2024 Home Energy Project Reference Sheet

Created February, 2024 by Mary Britton

Prospect Park Environment Committee (environment@prospectparkmpls.org)

Disclaimer:  The general information provided in this presentation is intended for reference purposes only and should not be construed as tax guidance.  Also, this guide should be considered a starting point and not totally comprehensive.

 

1)     Determine where your income falls to know if you are eligible for free audits or special financing:

Hennepin County, AMI (Area Median Income):

Household Size	1	2	3	4	5	6	7	8
80%	$66,300	$75,750	$85,200	$94,650	$102,250	$109,800	$117,400	$124,950
150%	$130,450	$149,050	$167,700	$186,300	$201,250	$216,150	$231,150	$245,950

Source: MN Dept of Commerce

 

 

2)     Get a Home Energy Audit:

·       To schedule:

o   Website:  https://www.mncee.org/home-energy-squad

o   Phone: 651-328-6220

o   You qualify for a free energy audit in Minneapolis if your household income falls below 150% (see second line of AMI table).

o   If your AMI is over 150%, you can still get 30% tax credit.

o   This is required for certain loans, and probably required for eventual MN State Rebates.

·       If you have had an energy audit in the past, you can get a copy from MNCEE. 

·       If you have bought your house after 2019, you can find your home’s energy audit at https://www.mncee.org/energy-disclosure?find-energy-scores

·       MNCEE can provide you with recommended contractors.

 

 

3)     Determine how you are going to pay for the project:

Loans & Grants:

1. City of Minneapolis has 0% loans available for part of energy projects, depending on your AMI (different loans and terms for < 80%, <150% and > 150%).  You must have had an energy audit in the previous 3 years.   
2. You may also be eligible for a grant.  https://www.mncee.org/minneapolis-energy-efficiency-loan-and-grant .
3.  If you live in one of the neighborhoods below, visit the website to click on the neighborhood’s link to see about special loans.

 

4.     Statewide loans (rates start at 6%):  https://www.mncee.org/home-energy  

 

 

Rebates and Tax Credits:

	Project	Rebate?	Rebate Links	Federal Tax Credit? Form link Tax Form	Contractor lists
ANNUAL FEDERAL TAX CREDIT LIMIT OF $1200	Attic Air Sealing /Insulation	1)Air Sealing Only - $750 Both - $1,300 Insulation Only – No rebate   2) Minneapolis has a matching rebate	Attic Insulation Rebate Info   Minneapolis Rebate	All - 30% of remaining cost, Up to $1200	Rebate Eligible Installers
	Wall Insulation	$1,500	Wall Insulation Rebate Info	30% of remaining cost, Up to $1200	Rebate Eligible Installers
	Furnace/Boiler Replacement	$150 - $500	Furnace Rebates	30% of remaining cost, Up to $600
	Hot Water Heater (Gas)	$250 - $1000	Gas H20 Rebates	30% of remaining cost, Up to $600
	Air Conditioning Unit	$450	AC Unit Rebate	30% of cost, Up to $600
	Windows			30% of cost, Up to $600
	Doors			30% of cost, Up to $500
	Electric Panel			30% of cost, up to $600
ANNUAL FED TAX CREDIT LIMIT OF $2000	Heat Pump	$150 - $2000	Heat Pump Rebates  (look under qualifying equipt)	30% of remaining cost, Up to $2000	MNASHP Recommended
	Hot Water Heater (Electric/Heat Pump)	$400 - $500	Electric H2O Rebates	30% of remaining cost, Up to $2000	Electrify Everything(mncee.org)
	Solar Panels See if your house is a good site for solar			30% of total cost	Questions to ask solar installers

 

4)   Keep an eye out for additional rebates from the state of Minnesota in 2025, especially if your AMI is less than 150%:

 

Sign up for their newsletter at Minnesota’s Chamber of Commerce website:  https://mn.gov/commerce/energy/consumer/energy-programs/home-energy-rebates.jsp

 

From the website:

“Home Efficiency Rebate program (HOMES)

The Home Efficiency Rebates will provide rebates for whole-home energy saving improvements. The rebate amount will vary based on the amount of energy savings achieved and a household’s income. The rebate amount will range from $2,000 to $8,000 per home.

Minnesota is currently designing its program and approach. This program is intended to make homes more energy efficient and provide improvements such as insulation, air sealing and efficient heating and cooling equipment. Existing single-family homes and multifamily buildings will be eligible.

Home Electrification and Appliance Rebate program (HEAR)

The Home Electrification and Appliance Rebates will provide rebates to replace non-electric appliances with more efficient electric appliances, and to upgrade a home’s electrical service to be ready for increased electric demand. 

Minnesota is currently designing its program and identifying which upgrades will be eligible. This program can provide rebates for things such as a first-time purchase of heat pump technologies (for air cooling/heating, water heating, and clothes drying), electric cooking appliances (stove, cooktop, range, or oven), and upgrades to a home’s electrical panel and wiring.

Rebates will be available to households with total annual income less than 150 percent of the area median income of the area in which they reside. The rebate amount will depend on the upgrades and technologies purchased and a household’s income. Improvements to existing single-family homes and multifamily buildings will be eligible. New homes may be eligible.”

Additional Links:

https://www.mncee.org/home-energy-hub