A number of incentives and rebates have ended, but money is still available to help pay for clean energy or energy saving projects. Local and statewide funds are now available for residents and businesses to replace canceled federal incentive programs. This is a great opportunity for anyone considering an electric vehicle (EV), solar power, heat pumps, weatherization, appliances like induction stoves, or other energy investments.
A brief summary of the available funds follow along with links to find more information:
Electrify Monadnock Fund
The Monadnock Sustainability Hub has announced a new fund for people in the Monadnock region considering electrification projects. The Electrify Monadnock Fund is available to homeowners and, for some items, renters who earn under 150% of the average median income for the region ($127,406 for a one-person household to $240,281 for an eight-person household).
Electrify Monadnock will cover 100% of costs up to $5,000 or 30% of larger project costs up to $7,000. Applicants may combine the fund with other federal, state, or private incentives. Projects covered are:
- Solar panels and/or battery storage
- Heat pumps
- Electric appliances that replace those using fossil fuels
- Weatherization
- Electrical panel upgrades
- EVs
Electrify Monadnock applicants will be assigned an energy coach, someone who has undertaken a similar project and can walk the applicant through the process. The Monadnock Sustainability Hub is accepting applications for the fund now and will begin disbursing payments starting May 16. For more information, visit the fund’s web page at https://monadnocksustainabilityhub.org/electrify-monadnock/.
NHSaves
The NHSaves program provides rebates for a range of energy-saving projects. It is run by the state’s utilities—Eversource for this region. Rebates range from $20 to $1,500 or more for larger projects. Items eligible for NHSaves rebates include:
- Heat pump water heaters (up to $900)
- Heat pumps ($250 per ton)
- Energy Star appliances ($20 to $200)
- Variable speed pool pumps ($350)
The program also provides home energy audits for $100 to qualified customers. NHSaves will then pay for up to $6,000 on energy-efficiency improvements the homeowner makes based on the audit, depending on expected energy savings. Low- or no-interest loans of up to $15,000 are available to finance larger projects.
NHSaves offers another level for low- to moderate-income households that offers incentives including to replace inefficient appliance and up to $15,000 weatherization projects. For either level, applicant must first have a home energy audit. That audit will determine eligible incentives based on the expected energy savings. For more information, visit the NHSaves website at https://nhsaves.com/.
Eversource Demand Response Program
Eversource is offering incentives for homeowners to install battery storage in exchange for allowing the utility to draw power from those batteries during peak demand times for a three-year period. The incentive is $230 per kilowatt (kW) of storage up to a maximum of $3,000. After three years, the batteries serve only the homeowner. Program participants my enroll in Eversource’s ConnectedSolutions program after the three-year period and receive payments that average $1,000 annually for the energy the utility uses from their batteries.
One catch is that only specific models from Enphase and FranklinWH are eligible. For more information, visit the Eversource Demand Response page at https://www.eversource.com/residential/save-money-energy/energy-efficiency-programs/demand-response/nhcef-home-battery.
HeatSmart+
Funds from the HeatSmart+ program are still available to homeowners in Peterborough and Harrisville for a range of energy-efficiency investments. The Peterborough Renewable Energy Project (PREP) secured the money from the U.S. Department of Energy (DOE) via its Energy Efficiency and Conservation Block Grant (EECBG), and the program is now administered by the towns of Peterborough and Harrisville. Applicants must own a single-family home, so unfortunately condo owners and renters cannot apply.
Up to $5,000 is available for home-efficiency investments including:
- Home weatherization
- Heat pumps
- Heat pump water heaters
- Heat pump clothes dryers
- Induction stoves
- Electrical panel and wiring
Projects require an approved building permit and final inspection by each town’s building inspector. For more information, visit the HeatSmart+ website at https://engage.zencity.io/peterborough-nh/en-US/projects/for-homeowners.
Alternative Fuel Vehicle Refueling Property Credit for Individuals
One last vestige of the Inflation Reduction Act of 2022 remains: the Alternative Fuel Vehicle Refueling Property Credit for Individuals. This incentive provides a tax credit of 30% of the cost of installing an EV charger at an individual’s primary residence, with a maximum tax credit of $1,000. To be eligible, the EV charger must be placed in service during the tax year for the use of the taxpayer, and the taxpayer must be in a low-income community or live in a non-urban census tract.
The EV charger tax credit expires on June 30, 2026, so anyone wishing to take advantage of it needs to hurry. Find more information on the tax credit at this Internal Revenue Service web page: https://www.irs.gov/credits-deductions/alternative-fuel-vehicle-refueling-property-credit-for-individuals.
Volunteers needed to help raise future funds
Two of the energy-related funds were made possible by local volunteer groups. The Monadnock Sustainability Hub, which serves the Monadnock Region, raised money via grants and local donations for Electrify Monadnock, and PREP submitted the grant application for DOE funding for HeatSmart+.
Raising funds requires a great deal of work, and both organizations are always looking for new members to help share the load. Want to make a difference in your community? Volunteer with one of these groups. For the Monadnock Sustainability Hub, go to https://monadnocksustainabilityhub.org/support/volunteer/. Peterborough residents can reach PREP through this link: https://www.prepnh.org/about-prep#4.
Michael Nadeau is a member of the Community Power Committee.