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 a lot of sources of financial support for your energy projects, although they have conditions that must be met.

 

Because increasing energy efficiency and use of renewable energy has been a major political goal in this country, there are ongoing programs to provide financial assistance at the national, state and local levels:

• At the national level, the Inflation Reduction Act, passed in 2022, aims to reduce carbon emissions and curb healthcare costs. It provides $433 billion for a wide variety of projects. These funds are being administered by several federal agencies, including the Internal Revenue Service, the Department of Energy, the Department of Agriculture, the Environmental Protection Agency and Housing and Urban Development. The Rewiring America website has a good online calculator that will estimate your IRA tax credits.
• At the state level, New Hampshire has created a public private partnership NHSaves with the state Department of Energy and the electric power utilities that provides rebates. The Databaseof State Incentives for Renewables & Efficiency (DSIRE) is the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States.The DSIRE summary tables allow you to filter the results by category (either incentives or regulations) and by technology. Another great state resource for solar and wood pellet system is the New Hampshire Department of Energy (NH DOE) Renewable Energy Rebates web page where you can find links to specific program applications.
• At the local level, three of the implementation and cross-cutting strategies of the Peterborough Renewable Energy Plan involve providing financial support to get the town to 100% renewable energy by 2050.
• 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.