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Rebates for Saving Energy
Did you know that you could receive rebates for saving energy? Download this document for more information.
Quick Links for Rebates:
GasNetworks.com
Massave.com
KeySpanEnergy.com
Rebates for
Saving Energy
Now is the time to insulate your house because you may be eligible for rebates from your utility company and federal tax credit. In some cases an energy audit is required. Check with your electric and gas utilities and energy efficiency service providers for specific equipment types and rebate amounts. Also, ask your lender about energy efficient mortgages (EEMs). If an official home energy rating or HERS report indicates that energy improvements will save you money, you may be eligible to pay for the improvements through your mortgage.
For example, if you have a Keyspan gas-heated home and are proposing a $1500 insulation job, you would end up paying $1050 in out-of-pocket expenses when the job is done ($300 from Keyspan and $150 in Federal tax credit = $450). For a $3000 insulation job, you would end up paying $2100 in out-of-pocket expenses ($600 from Keyspan, and $300 in Federal tax credit = $900). If you have an NSTAR gas-heated home the same two jobs would result in paying only $600 out-of-pocket for a $1500 insulation job ($750 from NSTAR and $150 in Federal tax credit = $900) and $1200 out-of-pocket for a $3000 insulation job ($1500 from NSTAR and $300 in Federal tax credit = $1800). You may also split the job into two years and still be eligible for the maximum annual rebate limit, such as LaPolla insulation in year one for air sealing in the attic, then come back and do it again in year two for the basement. BayState Gas also has similar programs.
If you have a commercial building, new construction or have a different residential gas provider, let us know and we’ll walk you through your rebate oppurtunities.
| Rebates & Tax Credits | NSTAR gas heat customer | NSTAR electric, propane, or oil heat customer | Keyspan gas heat customer | Federal tax Credit |
|---|---|---|---|---|
| Insulation | 50% up to $1500 - confirm with contractor | Attic, wall and basement insulation; duct sealing and duct installation | 20% up to $750 | 10% up to $500 |
| Furnace / Boiler | $150 - $500 | High efficiency heating systems | Up to $500 | $150 |
| Water Heater | $300 | High efficiency water heaters | $300 | $300 |
| Programmable Thermostat | $25, limit of 2 per household | $25, limit of 2 per household | * the U.S. Treasury has not yet provided final interpretation for IRS use. | |
| Energy Star Window | $10; does not include additions or new construction | Energy Star replacement windows | $10; does not include additions or new construction | 10% up to $200 |
| Total | $2335 | 0% annual percentage rate (APR) loan amounts up to $15,000 for eligible improvements | $1585 | $500 maxiumum |
| Deadline | Dec. 31, 2007; call for update or renewal information | Ongoing; but could be discontinued at any time | Apr. 30, 2007 call for update or renewal information | 1/06 - 12/07 |
| Contact | 1-800-632-8300 gasnetworks.com 1-800-232-0672 NSTARonline.com massave.com | 1-800-632-8300 gasnetworks.com 1-800-232-0672 NSTARonline.com massave.com | 1-800-292-2032 gasnetworks.com massave.com keyspanenergy.com | 1-888-SStar-Yes keyspanenergy.com |
