Heat pumps are a great way to save on your annual heating and cooling bills, but there are other great rebates, federal incentives, and utility discounts you can capitalize on, too!
Efficiency Maine Rebates
Since heat pumps are more environmentally friendly than traditional heating systems, Efficiency Maine offers rebates for Mainers of all income types. Low-income Mainers can qualify for up to $8,000 in rebates, while moderate-income Mainers qualify for up to $6,000 in rebates. See if you qualify based on income eligibility.
All Mainers, regardless of income, can qualify for up to $4,000 in rebates from Efficiency Maine for whole home heat pump solutions. Learn more about eligibility for rebates for residential heat pump rebates.
Federal Tax Incentives Through the Inflation Reduction Act
A tax credit of up to $2,600 was put into effect for any projects billed as of January 1, 2023. The criteria for qualifying requires customers to have a tax liability of $2,000 or more, and only certain equipment qualifies for this credit. We are working with vendors to get an updated list of which equipment qualifies, so please get in touch with us for more information. This credit resets each tax year, effectively becoming available again for additional projects.
See FAQs on the Inflation Reduction Act.
Federal Government Incentives
A tax credit of up to $2,600 was put into effect for any projects billed as of January 1, 2023. The criteria for qualifying requires customers to have a tax liability of $2,000 or more on qualifying equipment. We are working with vendors to get an updated list of which equipment qualifies, so please contact us for more information. This credit resets each tax year, effectively becoming available again for additional projects.
See FAQs on the Inflation Reduction Act.
Local Incentive Programs
The following cities and towns offer grants for heat pump installations based on income limits or household value. Customers can take advantage of these programs in addition to Efficiency Maine and federal government incentives:
City of Bangor: Up to $2,000 based on homeowner income. See the current income limits.
Town of Freeport: Up to $1,200 based on homeowner income. See the current limits and access the application.
Utility Discounts
Both Central Maine Power and Versant Power offer homes with heat pumps special rates during the winter months.
Learn more about both programs: CMP Electric Technology Rate, Versant Power Home Eco Rate.
Community Solar Program
Maine has programs available that allow citizens to benefit from the Community Solar projects around the state. Participating customers receive credits on their electric utility bill that reduces the amount of the payment owed to the utility, to the standard offer service provider, or, if applicable, to the customer’s competitive electricity provider. Typically signing up is free and customers can save up to 15% on their utility bills. Sounds good to go be true? It’s not!
Learn more about the Community Solar Program and find a solar provider near you.
Our team is eager to serve you. Let’s get started.
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