NH Renewable Energy Incentives Reopen
Thinking about installing and using a renewable energy source for your business? The State’s incentive programs have reopened!
If you are like many business owners you want to use the most efficient lighting, refrigeration, motors and equipment in order to consume less energy and save on your bottom line. It’s no secret that energy usage, like every other commodity a business uses, is important to track.
But have you considered the type of energy your business uses? Is it from a renewable source? Have you considered installing a renewable energy source in your business?
Why you should include renewable energy in your business plan:
- It is good for your business’ bottom line. You will produce your own electricity or use local fuel for heat, which is often less expensive than fossil fuel, thereby saving your business money.
- It is good for your community. You are signaling to your customers that you care about the community and that you are a business leader!
- It is good for buying local. Using renewable energy sources allows your business to use locally sourced energy fuels.
- It is good for the State of New Hampshire. It helps the State meet its renewable energy goal of 25% by 2025, as specified by the Renewable Portfolio Standard (RPS).
- It is good for the environment. Renewable sources will decrease the level of CO2 (carbon dioxide) your business emits.
Now is a good time to evaluate the impact of adding renewable energy sources to your business. The Renewable Portfolio Standard Renewable Energy Fund (REF) program budget for fiscal year 2019 was recently approved by the Public Utility Commission (PUC) and the incentive programs have been re-opened.
The REF has $9.09M this fiscal year to support the installation of renewable energy systems for commercial and industrial applications, including wood pellet central heating systems, solar panel installations, and other qualifying systems. It also has residential rebate programs for wind, solar photovoltaic, solar thermal, and bulk-fed wood pellet heating systems. The fund allotments for the two sectors, commercial/industrial and residential, are $6.62 M and $2.47M respectively.
The newly opened programs are accepting applications for lottery participation to ensure fair access to the program funds.
- Deadline for applications for the pellet programs to participate in the lottery is September 7, 2018 (with a lottery date of September 12).
- Deadline for applications for solar and wind applications to participate in the lottery is September 17, 2018 (with a lottery date of September 24).
All lotteries are held at 1:00 p.m., Hearing Room B, Suite 10, 21 S. Fruit Street, Concord, NH. If program funds remain after the lotteries, the PUC will continue to accept applications on a first come, first served basis.
Submitted by Andrea O'Brien, Director, NH SBDC Business Sustainabilty Program