3,000 homes and over $5 million in rebates paid so far this year
Prior to July of 2017 performance-based incentives, most retrofit jobs in Maryland averaged around $3,700 and included your standard run-of-the-mill attic air sealing and insulation package. Rebates covered roughly 50% of the job cost, but if the work got too expensive the project likely would not qualify. It was good work, but it wasn’t moving the needle.
Today, home performance jobs range anywhere from $500 to $50,000 (and even higher). The average ticket price of a completed job coming through the program is well over $8,000 and the average rebate has jumped to over $2,500.
Home performance companies are expanding services and installing larger scopes of work: crawlspace encapsulation, ductless mini-splits, geothermal heat pumps, duct sealing, advanced ventilation systems, windows, doors, and more. Since moving to performance-based incentives, the Home Performance with ENERGY STAR® programs have seen year-after-year growth in the size and scope of home energy retrofits.
The top two companies in BGE, Pepco, and Delmarva Power combined have completed over 300 jobs in the first half of this year with an average rebate of over $4,000!
All told, the program has paid out $5M in rebates this year, with another $3.7M of reserved rebates in the pipeline! The total set aside for 2019 rebates is $10.5 million by the way.
The industry is growing, and customers are talking. None of this would be possible without the work that goes unnoticed, and to the thankless hours of crawling through moldy crawlspaces and blazing hot attics. But we’ve just gotten started!
If you are interested in joining the Home Performance with ENERGY STAR program, or want to connect with a participating contractor, reach out to Kerry.Hollenbeck@icf.com (BGE) or Seth.Rapoza@icf.com (Pepco and Delmarva Power).
The program teams at ICF are incredibly thankful to all those who participate in the program, and to everyone at MDBPA helping to grow the home performance industry.