Save Money


Every now and then, I do random web searches to see what emerges.  That’s how I found the California Center for Sustainable Energy located in San Diego, California (www.sdenergy.org).  Talk about resources, geez!  This organization is all things energy for San Diego, but a lot of their information can be applied anywhere.  

The center has articles, research, forums, and events.  They have reports on legislation, too.  They even present the San Diego Excellence in Energy (SANDEE) award.  

According to their website, the SANDEE is awarded to “outstanding projects and activities that have achieved significant energy savings and/or contributions toward the goals of the San Diego Regional Energy Strategy 2030 through the implementation of energy efficiency, energy conservation, renewable energy measures and CO2 reduction in San Diego County.”

There are many different categories for individuals as well as small and large businesses, and yes even an award for municipalities.  Nominations for a SANDEE award are due February 2, 2009, so if you know someone who might be eligible, you better hurry.  For more information, “Click Here.

Energy Efficient Mortgagaes (EEMs) or Energy Improvement Mortgages (EIMs)are special mortgages that give home purchasers or  home owners the option of purchasing a more expensive home with green features or installing energy efficient technology in a current home.  Lenders allow borrowers to borrow more money than they would otherwise permit because the savings in energy costs can be used to pay the added amount due on a note.

Some EEMs or EIMs have lower interest rates and lower down payment requirements.

The US Dept. of Housing and Urban Development has a great page explaining the logic.  (Click Here).  This is the basic analysis provided on their web page:

                                    Older                Same Home with
                                    existing home     energy improvements

Home price                        $ 150,000             $ 154,816
(90% mortgage, 8% interest)

Loan amount                      $ 135,000             $ 139,334

Monthly payment*               $      991            $     1,023

Energy bills                      + $      186        +  $         93

The true monthly

cost of home ownership        $   1,177               $   1,116

Monthly savings                                       -    $        61

Developers can use EEMs as a marketing tool to show how purchasers can actually SAVE money on their mortgage payment if they buy a more expensive home!  Contractors can make the same argument for home improvement projects.

California has helpful information on their “Flex Your Power” website (Click Here).

The Residential Energy Services Network also has lots of excellent information for home owners including information about EEMs and EIMs (Click Here).

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