Reduce energy and operating costs and make the multifamily property you own or manage more comfortable and environmentally friendly with the Multifamily Initiative.
You don’t have to live in a single-family home to benefit from energy efficiency.
As a condo owner, you can save money and make your home more comfortable with energy-saving improvements. But it doesn’t have to cost a lot. Start with simple, no-cost or low-cost steps you can take right away. It’s easy to get started with resources from us.
If you are a typical condo owner in New England, you spend about $2,400 each year on energy1. You may spend even more if your condo fees include energy costs for the common areas in your complex. The good news is that there are many energy-saving improvements you and your condo association can make to reduce energy costs and increase comfort.
Energy-efficient upgrades may also increase the value of your home. Due to relatively high energy expenses, savvy homebuyers are now asking about energy costs. The National Association of Realtors' 2010 Profile of Home Buyers and Sellers found that nearly 90 percent of buyers considered heating and cooling bills important, and more than 70 percent wanted high-efficiency appliances.
This same survey found that for every dollar saved each year on energy bills, home buyers were willing to pay $10-25 more for a given home. If you reduced your energy costs by just 10 percent, saving $240 a year, your condo’s value could increase by $2,400 to $6,0002.
As a condo owner, you have many energy-saving options. Some energy efficiency upgrades are inexpensive – such as weather stripping and caulking – and others can require a greater investment. Similarly, renewable energy systems can be installed using no money down lease options or purchased using state and federal incentives. (Check with your condo association about installing a renewable energy system.) We can help you make the best smart energy choices for your home with expert advice, rebates and financing.
How We Help
Condo owners in Connecticut can take advantage of a number of energy efficiency and renewable energy programs funded through the Connecticut Energy Efficiency Fund and the Connecticut Green Bank. You and your condo association can benefit from a range of rebates and from technical advice and rebates from full-service energy efficiency programs like Home Energy Solutions-Core Services. If your condo is heated by a common HVAC system, the Multifamily program offers advice and rebates.
To find smart energy options that are right for you, please visit our Find a Solution page, or see a list of popular choices below.