New Hampshire Becomes First State to Incorporate Renewable Thermal Energy into RPS
On June 25, 2012 New Hampshire Governor John Lynch signed Senate Bill 218 into law. New Hampshire is the first state in the country to fully incorporate renewable thermal energy into their renewable portfolio standard (RPS) program.
RPS programs provide incentives to utilities to develop energy from renewable resources like wind, solar, and biomass. So far, 29 states and the District of Columbia have adopted RPS programs, but few have included renewable thermal energy.
The New Hampshire RPS will now grant incentives to project developers working on renewable thermal energy projects. Renewable energy credits (RECs) will be worth up to $29 per megawatt-hour of thermal energy produced by qualifying projects like:
· Wood or wood pellet boilers
· Solar hot water arrays on rooftops
· Geothermal heating or cooling in buildings
Project developers will be able to sell RECs to help finance projects, reducing the payback time on the initial investment. Renewable thermal energy RECs have been authorized through the 2025.
To learn more about the New Hampshire RPS program and renewable thermal energy, read the Renewable Energy World news article.