Rental Property
Energy Efficiency for Landlords
Even if you don’t live in the home or pay the utility bill, investing in clean energy upgrades for your properties can be a strategic investment for you, and a commitment to quality, safe, and efficient housing for your residents. When you weatherize a home or install electric appliances, you invest in reliable, low maintenance technology, year-round comfort, affordable energy bills, resident health, and happy, long-term tenants.
We know you’ve got a mortgage, taxes, and insurance to pay, which are only getting more expensive every year. The good news: there is money available now to help pay for home energy upgrades.
Did you know eligibility for some financial incentives may be based on your tenants’ income, not yours?
The Advantages of Going Electric in Rental Properties
Lower energy consumption
Reduce utility bills
Increase resident satisfaction and year-round comfort
Future-proof your portfolio
Keep up with and stay ahead of regulations
Qualify for incentives
Weatherization & Insulation
Households living in weatherized homes can save hundreds of dollars every year, and energy bills – particularly for low-income households – can be a significant burden. Homes in colder climates, like ours, have the most to gain from weatherization improvements.
Learn more about weatherization and its benefits here.
Energy-Efficient Ranges & Cooktops for Rental Properties
Gas stoves emit pollutants that are known to exacerbate respiratory issues and cause lung damage. The health effects of indoor air pollution disproportionately impact vulnerable populations, like children, older adults, low-income households, and communities of color. Upgrading to an electric stove is one way to make sure residents have a safe, healthy home.
Proper ventilation usually isn’t enough to eliminate the negative health effects of gas stoves. Many exhaust hoods just recirculate air, and even vented ones aren’t always strong enough to reduce pollution to healthy levels. Surveys show most people don’t use ventilation even if they have it (RMI.org).
Electric stoves are healthier and safer than gas, but some foodies aren’t in love with the way traditional electric stoves perform. “Induction stoves” are a great gas-free alternative. Induction stoves generate an electromagnetic field below the cooktop surface and are beloved by families and gourmet chefs alike for their ability to cook food precisely and boil water in seconds. Their cooking surfaces remain cool to the touch — a safety feature for households with children. Induction stoves are the most efficient stove option, reducing a home or apartment’s energy consumption and saving residents money.
HVAC Replacement for Rental Properties
HVAC systems are often the biggest users of fossil fuel in a home. As a landlord, you may only have one chance to upgrade the heating and cooling over the life of your rental property. Make the smart, long-term choice by replacing dated HVAC with a modern high-efficiency heat pump.
Avoid the dreaded no-heat call this winter and take advantage of incentives to help pay for the upgrade by planning ahead to replace your aging furnace or boiler.
Learn more about electric heating & cooling here.
Electric Appliances
When you have an opportunity to replace aging appliances, don’t invest in last decade’s technology. Electric appliances are reliable, safe, and good for the planet.
Learn more about electric hot water heaters, dryers, induction stoves, and more here.
What if my Tenants Pay for Utilities?
In our region, many leases stipulate that tenants are responsible for paying utility bills, but landlords are still choosing to invest in heat pumps, insulation, electric appliances, and other energy-efficiency measures.
An investment in insulation, windows, or an ultra-efficient heat pump can improve the operations of the unit or building, reduce tenant complaints, and improve the value of the asset for decades to come. Not to mention that an aging furnace, boiler, or hot water heater can be a ticking time bomb for the dreaded no-heat call in the middle of winter. Energy improvements are an investment in housing justice, the idea that everyone deserves safe, affordable, and health-promoting housing.
Incentives are available now to help with energy efficiency improvements to support aging housing stock and make proactive decisions about your portfolio.
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Overview: EmPower+ helps low- and moderate-income households save energy and money toward energy improvements made to their property. Households can receive a no cost comprehensive home energy assessment, no-cost direct install improvements identified during the assessment, and financial discounts on the cost of energy efficiency improvements like insulation, air sealing, heating and cooling, and appliances. This program is open to income-eligible owners and renters of 1-4 family households and may be based on your tenant’s income, rather than yours.
Incentive Details: Qualifying single-family low-income units can receive up to $10,000 per project. Qualifying single-family moderate-income units can receive a cost share of up to $5,000 per project.
Eligibility: Property owners/Managers of Multifamily buildings with 5+ units and an active RG&E electricity and/or natural gas service.
FREE energy assessment to assess energy usage and identify opportunities to increase efficiency
FREE installation of in-unit LED screw-in lighting
FREE installation of low-flow showerheads, aerators and water heater pipe wrap in dwelling units where water is heated by electricity or natural gas
FREE installation of programmable setback thermostats
70% incentive of interior and exterior common area hard wired lighting replacement
70% incentive for installation of occupancy sensors
Incentives for installation of air sealing and insulation for electric and heat heated buildings (incentives based on energy savings)
Learn More about the EmPower+ program.
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Overview: This program offers incentives for the installation of energy efficient equipment and technology to affordable multifamily buildings with five or more units. This equipment and technology can reduce the overall energy use and maintenance costs while increasing operating efficiencies and improving tenant comfort.
Eligibility: Affordable multifamily housing is defined as buildings that have regulatory agreements with a housing agency or in which at least 25% of the units are, or are expected to be, occupied by households earning not more than 80% of the Area Median Income or State Median Income, whichever is greater.
Free Energy assessments: Incentives up to $1,200 per unit are available for whole-building retrofits across multiple building systems such as insulation, lighting, heating, and cooling. Incentives are applied based on a system of accumulated points.
Free installation in dwelling units of quick, easy measures such as LED lights, low flow showerheads, programmable and WiFi thermostats, and faucet aerators.
Incentives for smaller projects are determined by the equipment installed and/or energy savings.
Learn more about the Affordable Multifamily Energy Efficiency Program.
Incentives
There is money available now to help pay for your home’s energy upgrades.
Learn more about residential incentive programs here.
Want to get started now? Get in touch with an Energy Advisor!
Schedule a free consultation with an energy advisor to get started.
AMPED is your local connection to the resources, incentives, and vetted contractors you need to make strategic energy choices.
Another resource for landlords committed to providing safe, efficient, and healthy homes is the Housing Council at Pathstone.