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Midwest Energy (Gas and Electric) - How$mart Energy Efficiency Finance Program

Last Review: 2012-09-18
Incentive Type: Utility Loan Program
Eligible Efficiency Technologies: Heat pumps, Central Air conditioners, Caulking/Weather-stripping, Duct/Air sealing, Building Insulation, Windows, Custom/Others pending approval
Applicable Sectors: Commercial
Terms: Residential Rate: 3.0%
Commercial Rate: 4.5%
Residential Repayment: up to 16 years
Commercial Repayment: up to 10 years
Incentive Amount: not specified
Website: http://www.mwenergy.com/howsmart.aspx


Midwest Energy offers its residential and small commercial electricity and natural gas customers in good standing a way to finance energy efficiency improvements on eligible properties. Under the How$mart on-bill financing program, the utility will pay the initial cost of making energy efficiency improvements, then recoup the cost of these improvements through a surcharge on the customer's bill. The surcharge is designed to never exceed 90% of the projected energy savings associated with the improvements. It allows customers to make efficiency improvements with no up-front costs.

In order to participate in the program, customers must first have an energy audit performed by a Midwest Energy specialist. The audit will identify cost-effective improvements which the customer may then have completed by a participating contractor. The audit will be free of charge if the customer participates in the program. Customers who elect not to participate will be billed $200 for the audit.

Interest rates vary slightly depending on whether the customer is residential or non-residential and whether a low-cost source of financing (such as Efficiency Kansas) can be accessed through the program. Terms are up to 16 years for residential customers and up to 10 years for commercial customers. Customers are permitted to make payments buying down the initial cost of non-economic improvements to bring them within the program cost-effectiveness requirements. The program is available to both renters and building owners, although renters must have permission from landlord. In the event that the owner or tenant moves, the surcharge remains attached to the location where the improvements were performed as long as there is proper written disclosure.

Other program variations are available including How$mart Light for commercial lighting improvements (7-year maximum term) and How$mart GT for geothermal loops (30-year maximum term.) Please see the program web site or contact Midwest Energy for additional details, restrictions, and participation criteria.

Kay Unruh
Midwest Energy
1330 Canterbury

Hays, KS 67601
Phone:(800) 222-3121 Ext.
Phone 2:(785) 625-1474
Web site: http://www.mwenergy.com/Default.aspx


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