WASHINGTON, D.C. – U.S. Senators Angus King and Susan Collins are introducing a bipartisan bill to help more Maine families afford residential home biomass heating technologies that can save them thousands a year. The BTU Tax Credit Expansion Act incentivizes the purchase of these innovative heating sources by increasing the maximum rebate for these alternative stoves and boilers from $2,000 to $8,000. Once purchased, the stoves only cost a few hundred dollars a year to fuel and maintain – significantly lower than other heating options.
“With heating costs in flux, and climate change shifting global temperature norms, it is vital that we make home heating options like pellet stoves more affordable for Maine families,” Senator King said. “The BTU Tax Credit Expansion Act will expand financial incentives for families trying to find less expensive alternatives to traditional home heating systems – helping them to enjoy significant long-term savings. This tax credit pencils out as a win-win for Maine families that will cut utility costs, reduce fossil fuel emissions, and prevent tough choices like paying for heating, or putting food on the table.”
“Wood biomass not only benefits our forest products industry by creating good jobs here in Maine, but it is also a cost-effective, renewable, and environmentally friendly source of energy that helps individuals heat their homes in the winter months,” said Senator Collins. “Our legislation would encourage the use of this proven and highly efficient heating technology by increasing the credits available for biomass stoves and boilers to more closely align with incentives provided for other energy systems.”
The bill was also cosponsored by Senators Jeanne Shaheen (D-NH), Maggie Hassan (D-NH), and Lisa Murkowski (R-AK). The initial clean energy rebates were included in the Inflation Reduction Act which passed the Senate in August 2022.
Senator King has consistently worked to ensure Maine people have low, reliable energy and heating costs. Last Congress, he joined his New England colleagues on a letter to Energy Secretary Granholm urging the Biden Administration to develop an energy and heating plan that will prevent blackouts or price hikes this winter. In a hearing of the Senate Energy and Natural Resources Committee last Congress, he also spoke out against increasing exports of LNG when more natural gas is desperately needed in Maine and across New England.