2030 Special Bulletin:
The Centennial State is set to create more construction jobs, increase state and local government tax revenue, and move its housing market to Zero Net Energy (ZNE) – meaning homes that produce as much on-site energy as they consume!
Thanks to the Colorado Energy Saving Mortgage Program, signed into law by Governor Hickenlooper on May 28, a homebuyer purchasing a new or renovated ZNE (HERS 0 rating) home is eligible for an $8,000 reduction on financing the total cost of their home mortgage. A new or renovated home that has a HERS rating greater than HERS 0, but less than HERS 50 (50% energy reduction), will also receive a mortgage reduction incentive.
In addition to an $8,000 mortgage incentive, homebuyers will benefit further from lower energy bills, which can be used to offset any cost increase on a ZNE home. For example, $30,000 in improvements on a 2,200 square foot home, after the $8,000 incentive, would require an additional $94.53 in mortgage payments each month. The monthly energy savings, however, would be $154.00. That’s a net savings of $59.47 a month.