There are new economic incentives available through Massachusetts utilities companies for businesses who upgrade industrial equipment to achieve better energy efficiency. Mass Save has organized resourcesoutlining the different incentives offered by utilities companies and incentives for new constructions and retrofits for industrial customers. Mass Save has also helped stimulate the energy rebate program by partnering with NSTAR to increase incentives by up to 50% to help reach the governor’s goals by the end of 2010. NSTAR is just one of several Massachusetts utilities companies which offer rebates for adding energy efficient equipment to your manufacturing facility.
Using NSTAR as an example, they offer rebates for companies purchasing new energy-efficient equipment or retrofitting existing equipment to be more energy efficient. NSTAR distinguishes new construction projects and retrofits with different incentives for each, as well as different requirements to be eligible for rebates. When planning to build a new industrial process or improve your existing industrial process, check the different rebate structures listed below for both new construction and retrofits to maximize your company’s eligibility for rebates.
To be eligible for rebates, retrofit projects need to be completed within 6 months of the application, while new construction projects have up to 1.5 years to finish. Custom projects need to have detailed plans (such asCapital Cost Plans) calculating the amount of energy that will be saved, the load profile, materials and equipment estimates, and the types of equipment being used. To obtain the rebates for capital costs and installation, use an NSTAR approved contractor. 2-4 weeks after final sign off on post-inspection, the rebate goes to the client or vendor as a check, or shows up in the utility bill. Once pre-approval is given, money is held in escrow. All of the rebates can cover as much as 50% of the cost of equipment and construction, depending on how much energy is saved.
Below are the different rebates and application forms available from NSTAR for New Construction Projects and Retrofit Projects:
New Construction Projects
Always make sure to check with your local utility when expanding your facility or buying new equipment so that you can take advantage of any available incentives. Taking these incentives into account in your cost to savings ratio will likely affect how you decide to approach your project.