December 10, 2001—The state of California is offering a “Cool Savings with Cool Roofs” Rebate program. The program is providing $21,000,000 in cash rebates to colleges, universities, local governments, and businesses that replace their old hot roofs with new, light-colored, energy-conserving roofs. To qualify for the Cool Savings Program a roofing project must:
- Use only non-metallic roofing materials from the Cool Roof Product list with at least 65% reflectivity and 80% emissivity.
- Have a minimum 2-year labor and 5-year materials warranty (provided by the contractor and/or manufacturer) in the event of cracking, flaking, peeling or leaking.
- Early completion incentive rebates must have the cool roof in place (reflecting sun) by October 31, 2001 and final applications submitted by November 15, 2001.
- For projects completed after October 31, 2001, program funds will be disbursed on a first-come, first-served basis (at a lower rate) until the funds are exhausted or until November 30, 2002.
