Financing Needs of Homeowners & Contractors

Adam Stenftenagel – Snugg Home

Colorado Retrofit Working Group

Contractor Survey

Presented by:

Adam Stenftenagel

PrincipalSnugg Home

www.SnuggHome.com

• Created to help solve the complicated puzzle of home energy retrofits

• “We do the work for you”

• OptiMiser: More accurate recommendations, estimates & ROI

• We bring it all together in one place: Audit, Financing, Contractor, Quality Assurance

Contractor Survey

• Residential Retrofit Working Group created to identify the barriers in the retrofit industry in Colorado

• We needed to hear from contractors:

• Current capacity

• Interest in scaling up

• Needs in order to scale up

• Financing topped the list

Contractor Survey

• Survey created by RRWG Finance and Contractor Committees

• Conducted from June 7 to June 21, 2010• Sent to contractors from:

• Energy Efficiency Building Coalition (EEBC)• Boulder Green Building Guild (BGBG)• Efficiency First• Preferred contractor list from Xcel’s Energy

Audit program.• 86 total responses (50 completed survey)

Summary

• A diversity of small to mid-size firms are performing home energy retrofit work

• 95% of them want to grow

• 42% have not applied for a business loan

• More than ½ that have applied did not get the loan or are pending

• 62% of contractors feel that homeowner financing is a barrier to their success

Summary

• There is a large, unsatisfied demand for business loans to contractors and retrofit loans for homeowners.

• We’ve seen what the growth figures look like for the Energy Efficiency Industry today.

• Financing is the crucial component to making this happen.

For more information about this survey, please contact:

Adam StenftenagelPrincipal

Snugg Home

adam@snugghome.com720-663-7836

www.SnuggHome.com