Federal Tax Credits “Over the last several years, the federal government has offered a variety of tax credits for residential energy efficiency and renewable energy improvements. These federal tax credits are important because they are a dollar for dollar deduction from taxes owed to the US government. The tax credit is a dollar for dollar reduction against the income tax due.

USDA Rural Energy For America Program “The USDA has created this program to aid agricultural producers and small businesses in rural areas to reduce their energy use and expand opportunities for renewable energy. The program issues grants, guaranteed loans, or a combination of the two to a variety of projects. Recent awardees in New Hampshire include: Funspot, Weirs Beach NH- replaced all lighting for significant savings on electricity consumption. E Z Steel and Fabrication, Bath NH- installed a geothermal heating system to replace a propane fired system. Stuart and Johns Sugarhouse, Westmoreland NH- purchased two reverse osmosis machines to make production of maple syrup more energy efficient. Van Berkum Greenhouse, Deerfield NH-purchased energy curtain for greenhouse to reduce oil costs by limiting heat loss at night and blocking excessive heat build up during the day. Pleasant View Gardens, Pembroke NH- purchased a wood fired boiler system to replace an oil fired system that eliminated the use of #2 heating oil and provided significant costs savings.  Eligible Areas: Communities of less than 50,000 population and not contigious to a community of 50,000 or more. In New Hampshire, all communities would be accepted except for Manchester and Nashua and any communities sharing a border with these cities.

Historic Tax Credits “Development projects which preserve and renovate a ‘historic’ building may qualify for federal historic tax credits. The maximum available credit is 20% of qualified expenses and defined by the US department of Interior and the US Internal Revenue Service. In order to be eligible for the program a building must be 50 years old and have a historic inventory of a subject property must be completed prior to renovation. In addition, renovations must comply with the “Secretary of the Interior Standards”.”