What is the New Hampshire T-RECs Enterprise Fund?
T-RECs, or thermal renewable energy certificates, were authorized by the New Hampshire Legislature in 2012. High performance wood heating systems qualify. Once operating, the owner of the heating system receives T-RECs based on the amount of usable heat generated from wood. State law requires NH retail electricity suppliers to purchase these T-RECs. As a system owner, you generate real revenue as the facility operates.
The T-RECs Enterprise Fund will buy T-RECs from wood fueled heating system owners in advance, for up to five years of projected heat output, and pay a lump sum before project construction begins. As a result, a performance incentive becomes a capital incentive that can be used to reduce the project capital cost.
It’s a simple concept: instead of payments as heat is generated, the system owner gets one larger payment up front. THIS IS CASH THAT AN OWNER DOESN’T HAVE TO BORROW, BOND, OR SEEK FROM TAXPAYERS OR CAPITAL BUDGETS.
The U.S. Endowment for Forestry and Communities, a non-profit foundation, has committed a pool of funds to NH to provide a creative way to finance the high capital cost of modern wood heating systems. They’ve done this because wood heat helps support sustainable forestry, and is good for the rural economy of our state. They want to see more modern community-scale wood heating systems to help NH become less dependent on fossil heating fuels and utilize an abundant, renewable resource – wood. And, they want to test the idea and see if it will work in other states with similar policies.
TAKE THE NEXT STEP: Contact the Fund to learn more about how this tool works, and how it can help make your modern wood heating system a reality. Not clear yet? That’s understandable - Check out the illustration at one of the links on the left. CONTACT THE FUND TODAY.
CONTACT THE FUND TODAY:
Charles Niebling, firstname.lastname@example.org, 603-965-5434
Charles Levesque, email@example.com, 603-588-3272
New Hampshire T-RECs Enterprise Fund
c/o Innovative Natural Resource Solutions, LLC
37 Old Pound Road, Antrim, NH 03440