
- Energy Coaches
- Heating and Cooling
- The Plan
- About PREP
- …
- Energy Coaches
- Heating and Cooling
- The Plan
- About PREP
PETERBOROUGH RENEWABLE ENERGY PROJECT
PREP - Leading Peterborough to a 100% Renewable Energy Future
- Energy Coaches
- Heating and Cooling
- The Plan
- About PREP
- …
- Energy Coaches
- Heating and Cooling
- The Plan
- About PREP
Funding Your Projects
In the long run, increased efficiency and renewable energy sources will save you money. However, there are up-front costs for these projects that can prevent your plans from becoming reality. The good news is that there are many sources of financial support for your energy projects, although they have conditions that must be met. You'll need to act quickly to enjoy the federal tax credits listed below.
- The Inflation Reduction Act, passed in 2022, offered an array of tax credits and rebates that were projected to be available through 2032 to support energy efficiency and increased use of renewable energy. Unfortunately, this year's Congress set early expiration dates for many, but not all, of those opportunities.
- New and used electric vehicles must be purchased by September 30, 2025 to qualify for tax credits of up to $7500 for a new vehicle or up to $4000 for a used vehicle
- Tax credits of 30% up to specified caps are available for various home energy projects installed no later than December 31, 2025. The caps are $2000 for air source heat pumps or heat pump water heaters, $1200 for insulation and other forms of weatherization, $600 for an electrical panel, $150 for an energy audit.
- Uncapped tax credits of 30% are available for solar arrays, ground source heat pump systems, and battery backup systems placed in service by December 31, 2025
- A tax credit of up to $1000 is available for an electric vehicle charger installed in your home by June 30, 2026
The Rewiring America website has a good online calculator that will estimate your tax credits and rebates.
- While the tax credits will expire soon, the federal rebate programs administered by the State of New Hampshire were not canceled and are slated to launch in 2026. The Home Electrification and Appliance Rebates (HEAR) program will provide rebates for various energy upgrades, including as much as $8000 for heat pumps to heat and cool your home. You must wait for the program to launch before embarking on your project. Funding is not available retroactively. Check the NH Department of Energy site for other funding opportunities for homeowners.
- Rebates and other money-saving programs offered by NHSaves are available now. In particular, qualifying homes (meaning ones that are poorly weatherized) can earn up to $6000 in rebates for an energy audit, insulation, air sealing, and other forms of weatherization.
- Talk to your bank or credit union to see if they offer discounted loan rates for energy efficiency work on your home or for buying new or used electric vehicles.
Support for Homeowners
Support for Small Businesses
Support for Renters
Support for Acquiring a Clean Powered Car for Personal or Commercial Use
Copyright Peterborough Renewable Energy Planning 2021-2023