Get Funding for Energy Efficiency Upgrades
SMECO members can get rebates and review loan options specifically created for upgrades made through the Home Energy Improvement Program.
Maryland Energy Administration (MEA) Energy Efficiency Grant
Qualifying Maryland homeowners can apply for this grant and utilize funds to improve their homes to help reduce monthly utility bills, improve home comfort and indoor air quality, and eliminate some health and safety issues. Find out if you qualify. Ready to get started? Reach out to SMECOHEIP@icf.com
Inflation Reduction Act
In August 2022, the federal government passed the Inflation Reduction Act (IRA), which allocated more than 369 billion dollars over 10 years to several energy efficiency initiatives. Wondering how you can take advantage of these tax credits?
With SMECO’s HEIP program, you may be eligible for rebates for energy efficient home improvement work, including air sealing and insulation work. Air sealing and insulation work are also eligible for a tax credit of 30% of the project cost (up to $1,200), so the savings will continue to pile up. Additionally, should you choose to upgrade your HVAC system or purchase a new heat pump water heater through the HEIP program, similar beneficial tax credits (30% of project cost, up to $2,000) are available.
Disclaimer: SMECO is not a qualified tax consultant. This information is not intended as personal tax advice. Please contact a tax professional or CPA to confirm details specific to your qualifications and eligibility.
Clean Energy Advantage Loan
This low-interest loan offers qualifying Maryland homeowners 0% interest for the first 12 months for recommended home upgrades. Find out if you qualify and discuss eligibility of your project with your chosen installation contractor.
BeSMART Energy Efficiency Financing
This 10-year loan option offers qualifying Maryland homeowners up to $30,000 on energy efficiency improvements at 4.99% interest. BeSMART is an unsecured loan based on credit verification and ability to pay. Maryland homeowners with a credit score of 640 or greater and a debt-to-income ratio that does not exceed 50% can apply. Find out if you qualify.
EmPOWER Maryland programs are funded by a charge on your energy bill. EmPOWER programs can help you reduce your energy consumption and save you money. Learn more about EmPOWER and how you can participate.