BREAKING NEWS! Just In From Washington
Maine Senator Angus King introduces bill aimed to help businesses and homeowners across the country heat with renewable biomass (wood pellets and wood chips). This bill, co-sponsored by Senator Susan Collins, would provide up to a 30% tax credit for comprehensive biomass systems that meet the credit requirements.
This bill – known as the “Biomass Thermal Utilization Act of 2013,” or BTU Act – is a substantial benefit for those considering alternatives to fossil fuels. To qualify for the 30% residential credit, biomass equipment must be operating at a thermal efficiency rate of at least 75% and heat either space or water. Commercial credit is divided into two tiers; The first tier, a 15% credit, is met at an efficiency level between 65% and 80%. The second tier, a 30% credit, may be obtained at an efficiency of 80% and above.
We at Thayer Corporation are excited what the passing of this bill would mean for homeowners, businesses, and the environment. As one of the leading companies in biomass design, service and installation in the Northeast, we know that this would be a huge opportunity for not only our potential clients, but our existing customers as well, since the BTU act applies to units already installed that also meet the criteria. Aside from the savings you’ve already experienced, this would be a great opportunity to reinforce your satisfaction with the choice you made regarding your heating system.