Electricity rates on the rise, but you can still save money this winter
Beginning January 1st, NSTAR estimates that their average customer will pay $38 more per month than last winter, or more than $150 extra for the 6-month heating season, due to a temporary rate increase. Those who heat with electricity may experience even bigger increases. Fortunately, Renew Boston and Mass Save have many ways to help you find and eliminate wasted electricity, so that the rate increase won’t take such a big bite out of your budget. New LED lights and smart power strips, available for free when you have a Home Energy Assessment, can start you saving right away.
New rebates for heat pumps and whole house wood pellet heaters
Soon after the rate hike was announced, Massachusetts Clean Energy Center (MassCEC), together with the MA Department of Energy Resources, announced that it has established a new Clean Heating and Cooling program, which will be of particular benefit to those who will be most impacted by the rate hike: electric-heated homes. As part of the program, MassCEC is making $2.6 million in rebates available to homeowners who install either high-efficiency electric heat pumps or wood pellet whole house heating systems.
If you currently heat with electric baseboard or space heaters, an efficient, cold climate heat pump could “provide the same amount of heat at a third of the cost,” according to MassCEC. And renewable heating technology is not only for those who heat with electricity. MassCEC also notes that high quality heat pumps “are cheaper to operate than oil-based heating systems.” If you heat with oil, or have an older, inefficient natural gas system, wood pellets and heat pumps can be added to your list of options to consider.
Rebates for heat pumps are available to all residents of the Commonwealth who currently heat with electric resistance heat, regardless of where they live. The rebates are also available to residents who heat with oil, gas or propane, but only in those towns that are served by Mass Save or a participating municipal power company. Rebates range from $750 to a maximum of $3,750, based on system type and size. These rebates may be combined with a rebate of up to $500 from the MassSave program.
According to MassCEC, rebates for heat pumps will be available through February 28, 2015.
Click here to learn more about how you can tap into smarter heating options to replace or augment your current heating system. Learn more about pellet heating systems here.