Federal State Credits and State Rebates
As 2023 begins, homeowners can take advantage of federal and state incentives that reduce the cost of switching to modern wood heat. The recent Inflation Reduction Act extended the residential tax credit on qualifying wood and wood pellet appliances. As of January 2023, qualifying appliances generate a tax credit of 30% off the cost of purchase and installation, capped at $2,000. Homeowners in Maine, New Hampshire, and Vermont can also earn money back when they install modern wood heat, on top of the tax credit.
- Maine: Efficiency Maine rebates cover 1/3 the project costs, up to $6,000, for any home or business installing a rebate-eligible wood boiler or furnace.
- New Hampshire: The New Hampshire Department of Energy rebates cover 40% of the purchase and installation of eligible wood pellet boilers and furnaces, up to $10,000 for residential systems and $65,000 for commercial and industrial systems.
- Vermont: Efficiency Vermont rebates cover up to $6,000 for the purchase and installation of a wood pellet boiler or furnace when homes or businesses work with an Efficiency Excellence Network contractor.
The next set of campaign assets will revolve around local impact and forest health before this phase of the campaign wraps in September with conclusion of U.S. Economic Development Administration funding. The assets developed during this year will continue to serve outreach efforts and advocacy around the use of residential and commercial wood heat in the region.
For more information about rebates, finding an expert, and more, visit feelgoodheat.org.
