Money to help Annapolitans Install Geothermal, Solar, and More
By Kymberly Taylor
The City of Annapolis plans to launch this summer the Annapolis EZ (Energy Zone) Program, which will offer tax-exempt, low-interest loans to homeowners and businesses who install renewable energy systems or take steps to conserve energy. These can range from installing geothermal and solar systems (which can cost $14,000 and upwards to install) to simply “leak proofing” your home or business after obtaining a professional energy audit. If your project is eligible, your loan payment may be amortized over a period not to exceed 40 years and added to your property tax bill. The loan must be assumed by the property’s new owner should you decide to sell before paying it back. “It’s an incentive to get people off the sidelines and dig up dirt, especially if you have the bob cat out there anyway,” says Paul Murphy, member of Green Drinks’ Annapolis chapter. He estimates that there is approximately a quarter million dollars in the fund, which may help about 100 homes or businesses. He hopes that this is just the start of more incentives to help lighten the financial load for those who care about the environment yet cannot often afford steep installation costs. Mayor Ellen O. Moyer unveiled the initiative August 13 and is partnering with the Maryland Energy Administration, Anne Arundel County Chamber of Commerce Foundation, and CommerceFirst Bank. The program hopes to be up and running shortly. Annapolis is one of three cities in America to partner with private companies to offer energy conservation financing for home and business owners. The others are Berkeley, California and Cambridge, Massachusetts.
For more information, go to
www.annapolis-ez.com
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City of Annapolis
Energy Zone
Annapolis EZ
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