Babylon, New York has enacted an extensive program to work with citizens to pay for energy efficiency upgrades for every home in the town. Under the Long Island Green Homes Program, Babylon will loan residents up to $12,000 at a 3% interest rate to pay directly for energy efficiency improvements to their homes.
Under the program, which has been funded with $2 million in town funds, residents get home energy audits that include recommended actions for renovations, including adding more insulation, changing out the HVAC system, etc. The town pays for the renovations and the homeowner then makes payments to the town based roughly on the reduction in payments caused by having a more efficient home. The homeowner assumes no debt and, should the house be sold, what is remaining of the obligation is assigned to the new homeowner. Homes that go through the program are expected to reduce energy consumption by roughly 20-40%.
Babylon has approximately 65,000 single family homes which collectively emit 1.6 million lbs of carbon on a daily basis. The program will help reduce carbon emissions by 65,000-130,000 tons, reduce energy costs for homeowners and create 6,600 new green collar jobs. Under the program, the average resident will reduce his or her energy costs by approximately $1,160 per year and reduce his or her carbon footprint by 20-40%. The program is a primary initiative of Babylon's soon-to-be-released Climate Protection and Sustainability Plan which will outline measures to reduce the town’s emissions by 12% by 2012.
This program is an interesting model for municipalities on the local, state and national level. We're watching to see if it catches on elsewhere!
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