More and more people in Massachusetts are choosing to heat their homes and businesses with air source heat pumps. Did you know that there is a new financial incentive offered through the Department of Energy Resources? Now, not only will system owners be saving money on their annual heating costs by using these highly efficient, renewable systems, but through this program, they will also be able to receive payment from utility companies for the production of their green energy, significantly reducing total installation costs.
This is exciting news for air source heat pump installers who can use this incentive as a tool to promote more of these systems. This program is meant to help move Massachusetts away from the use of carbon-emitting fossil fuels for heating and instead, use the renewable thermal energy generated by a heat pump.
We are excited to announce that we will be hosting a free webinar on February 13th at 3pm to educate HVAC installers on this new incentive. Installers can click here to register and read more about this event!
Through this new program, called the Alternative Portfolio Standard (APS), utility companies across Massachusetts are required to invest in renewable energy by purchasing a certain number of Alternative Energy Credits (AECs) each year. These credits are granted to the owners of qualifying renewable heating systems such as air and ground source heat pumps, solar hot water systems, and wood pellet boilers.
Our services at HCG include energy credit aggregation – we help customers apply for energy credits, and we sell the credits to utility companies on behalf of the customer. System owners are receiving an average of $1,600 back for the sale of their AECs. This incentive significantly reduces the total cost of a typical $9,000 air source heat pump installation.
As the only nonprofit energy credit aggregator in Massachusetts, our goal is to assist installers by providing guidance on this new program and a streamlined customer experience. In the webinar, we will provide installers with the knowledge needed about this incentive so they can make air source heat pumps more affordable for those who are considering installing new heating systems.
The APS program is reminiscent of the Solar Renewable Energy Credit (SREC) program that lasted for 10 years in Massachusetts, and helped to snowball the installation of solar panels throughout the Commonwealth. We have high hopes that this new incentive will provide a similar outcome for renewable heating systems!