Energy Efficiency Loans Frequently Asked Questions
| The Energy Efficiency Home Loan Program is a partnership between Kitsap Credit Union,
the City of Bainbridge Island and Kitsap County. Through this innovative alliance, Kitsap
Credit Union is the exclusive lender for a low‐Interest‐rate loan, providing an
opportunity for home and business owners in Kitsap County to make cost‐saving
improvements that will help increase comfort, conserve energy, and protect the
environment. |
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- Energy Assessment.
A home energy assessment will provide you with a comprehensive analysis of your
home's or business’ specific energy attributes (windows, insulation, weather-
stripping, etc .) and heating systems. It will help you evaluate how to make your
home or business more energy efficient and save you money.
- Contractor bid(s) and/or ENERGY STAR Appliance Estimate(s)
Obtain bids from qualified contractors to perform weatherization upgrades for your home or business.
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RePower offers homeowners two ways to evaluate and improve their home’s energy use:
- Puget Sound Energy (PSE) FREE HomePrint™ Assessment
Provided by an Independent PSE-Qualified Specialist, this FREE in-home assessment gives you practical recommendations to make your home operate more efficiently and includes on-site CFL installation. Call Puget Sound Energy at 1.800.562.1482 for more information or to schedule your assessment.
- Home Energy Assessment with EPS
A Home Energy Assessment performed by a participating Building Performance Institute (BPI)-certified contractor. Homeowners receive an Energy Performance Score (EPS)—a detailed energy-consumption report similar to a miles-per-gallon report for your home—which documents your home’s current condition and prioritized energy upgrades. Home Energy Assessment with EPS is offered at a cost of $400–$650 and is based on the size of your home. Kitsap County offers a limited time, instant $350 rebate to offset the cost of your Home Energy Assessment with EPS.
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| Kitsap Credit Union can provide you with a list of approved Energy Assessors and/or Contractors. These lists are also available on the Repower Kitsap and Bainbridge websites. |
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| Depending on your Energy Efficiency improvement project, there may be an additional cost to obtain a permit if required. |
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- Provide a signed Certificate of Work Completion (available from your contractor)
and contractor invoice too Kitsap Credit Union.
- Funds are disbursed with a check made payable to the Contractor.
- Multiple checks can be issued for various contractors. However, the request
for multiple checks must be made at the same time.
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| All funds must be dispersed within 90 days of the loan origination. Funds not dispersed will be applied to the loan. |
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You will begin accruing interest from the date of the loan origination, which may occur prior to completion of your Energy Efficiency improvement. |
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Up to forty‐five ( 45) days after the loan is originated. Your first payment may be due prior to completion of your Energy Efficiency improvement. As a convenience, you may want to set up an automatic transfer/payment from your Kitsap Credit Union account. |
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Yes. You can pay off your loan at any time with no prepayment penalty. |
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Homeowners earning up to $150,000 are eligible for this loan program. |
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Members wanting to obtain an Energy Efficiency Loan for Energy Star Appliances without having completed a formal Tier 2 assessment are eligible for the loan program. Eligible appliances are limited to: ENERGY STAR APPLIANCES including clothes washers, dehumidifiers, dishwashers, freezers, refrigerators, room air cleaners & purifiers and water coolers.
We encourage members to obtain at least a free Tier 1 assessment to ensure that the rest of their house is energy efficient as well, but neither a Tier 1 nor Tier 2 assessment is required to participate in the loan program you are only purchasing the above Energy Star Appliances. You will need to provide a copy of the invoice showing the Energy Star rating.
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| Please feel free to contact Kitsap Credit Union at 360-662-2000, or 1-800-422-5852, or stop by one of our branch locations. We would be happy to help. |
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