Program success prompts additional $3M funding
Sunnyvale, CA — Silicon Valley Clean Energy (SVCE) customers have received or reserved over $2.8M in rebates through the SVCE FutureFit Homes rebate program. The program launched in October 2022 to provide financial support for customers who upgrade from gas to energy-efficient electric heat pump equipment. Through the program, 223 heat pump water heaters and 334 heat pump space heating and cooling systems have been upgraded, and 109 pre-wired circuits have been installed.
Responding to the soaring demand for rebates, the SVCE Board of Directors recently approved an additional $3M to increase the impact of the FutureFit Homes program. The additional funding will nearly double the number of customers served by the program.
“Our communities’ commitment to creating a safe, healthy region is truly inspiring,” expressed Tina Walia, SVCE Board Chair and City of Saratoga Councilmember. “We’re proud to see customers enthusiastically making these upgrades with the FutureFit Homes rebates. Their dedication reinforces our collective journey towards creating healthier homes and reducing emissions in Silicon Valley.”
The rate at which rebates have been reserved and distributed is a testament to SVCE customers’ passion for sustainable living. Customer participation in the program has fostered a culture of efficient equipment adoption, reduced emissions, and climate action across SVCE communities.
“I think most folks want to do something for the environment, but if it’s going to cost them a lot of money it makes it tough, but between tax rebates and the Silicon Valley Clean Energy rebates, these things are affordable,” said Curt Cotner, SVCE customer and rebate recipient.
The FutureFit Homes program is slated to expand equipment eligibility in the spring of 2024.
Silicon Valley Clean Energy was created with the mission of reducing dependence on fossil fuels for the SVCE community. Programs like FutureFit Homes help create a safer and healthier region and make the transition to all-electric equipment more affordable with rebates that are easy to stack with federal tax credits and other state incentives. In a recent analysis by SVCE and Peninsula Clean Energy, existing single-family homes switching from gas appliances to standard electric equipment enjoyed on-bill savings of around $380 annually when this efficient, electric equipment is paired with a complementary electricity rate.
Residents looking to learn more about the benefits of going electric can learn more on the SVCE eHub. SVCE customers that are ready to make the switch to safe, clean, electric equipment can save money by claiming a FutureFit Homes rebate at svcleanenergy.org/home-rebates.
About Silicon Valley Clean Energy
Silicon Valley Clean Energy is a not-for-profit, community-owned agency providing clean electricity from renewable and carbon-free sources to more than 275,000 residential and commercial customers in 13 Santa Clara County jurisdictions. As a public agency, net revenues are returned to the community to keep rates competitive and promote clean energy programs. Silicon Valley Clean Energy is advancing innovative solutions to fight climate change by decarbonizing the grid, transportation, and buildings. Learn more at SVCleanEnergy.org.
Michaela Pippin, Principal Communications Specialist