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Maine Tax Incentives And Rebates For Energy Efficient Upgrades

energy efficient tax incentives in Maine

Maine Tax Incentives And Rebates For Energy Efficient Upgrades

Maine tax incentives and rebates for energy-efficient upgrades are on the minds of many homeowners as winter is literally around the corner.  If you need financial assistance or to inquire about rebates, visit www.EfficiencyMaine.org.  They manage energy-efficient programs which help homeowners and businesses upgrade their current HVAC systems.  You’ll find a host of contractors that provide these services along with many different options for renewable energy sources, such as solar and natural gas.

If you are on a tight budget there are options to finance and loans range from $1,000-$25,000, the most common being between $5,000-$12,000 for insulation, boilers, and air -sealing.  Aside from being a great investment for your family, these upgrades can help the sale of your home.

One of the most common questions I get asked a real estate agent is how efficient a homes systems are.  Mini-splits or “ductless” heat pumps have gained popularity over the years because they are super efficient.  They consist of a unit indoors and  a condenser on the exterior of the home which provide both heat and air conditioning.

I find that many homes with plaster walls or no possible way to run ducts, opt for these.  The one caveat is you’ll have to put multiple units in the home or an air handler that can distribute the air throughout.

Maine homebuyers know that electricity is expensive here and want to avoid having poorly weather-proofed or heated homes suck their money through the cracks.  The Greater Portland Maine area has a large percentage of property that was built-in the early 1900’s, they need to be properly insulated.  In fact, the Urban Development American Housing Survey shows that the average age of a home in Maine is roughly 50 years old.  I recommend an s so that you can see exactly where the cracks are and work to improve the efficiency of your home.

An energy audit is performed by a professional and typically consists of a series of tests.  Specifically but no limited to, a blower door test to measure air flow in the home.  They will help identify areas that need improvement and make suggestions.  The next step will be to choose a plan that works best for you, they are listed on the EfficienyMaine.org site along with the benefit cap.

As a Maine home seller, this would be a great idea to do before putting your home on the market so you can weatherproof (within your means) as a courtesy to any prospective buyer.  It sends a message to the buyer that you care and will go a long way.  Buyers always want to know that the seller has taken care of the home that they might be purchasing.

Energystar.gov offer federal tax incentives for Geothermal Heat Pumps, Solar Energy Systems, and Small Wind Turbines which expire December 31, 2016.  The tax credit is 30% of the cost, up to $500 per .5 KW of power capacity.  I recommend checking back with this website on a yearly basis so that you can see what tax incentives will be offered.

 

 

 

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