State and federal incentives can offset the relatively high cost of installing a new residential wood pellet boiler.
Efficiency Maine provides homeowners with a prompt payment of 1/3 the completed cost, up to a total of $6,000. There is also a federal tax credit of 1/3 of the cost, up to a total of $2,000.
For a limited number of wood pellet boiler installations in commercial, school, nonprofit, and public buildings, Efficiency Maine has a great 35% cost-share program! Contact firstname.lastname@example.org for details.
Federal Tax Credit
For efficient wood stoves and boilers, a federal tax credit for 30% of the installed cost, up to $2,000, is available. To claim this credit, file the current version of the Residential Clean Energy Credit Form, IRS Form 5695, along with your regular tax filing.
Visit Alliance For Green Heat and the IRS website for more information.
Maine Public Utilities Commission
Get a refund from the state of Maine on your Pellet Purchases! The Maine Public Utilities Commission has an excellent program, thanks to Maine’s Legislature and Governor, which will rebate part of the cost of pellets purchased for use in pellet boilers. Rebates currently amount to about $75/ton!
For details, contact the Maine Pellet Fuels Association at email@example.com.