Press Releases
Congressman Paul Hodes Introduces Biomass Tax Credit Legislation
April 23, 2009
Washington, DC--- Today, Congressman Paul Hodes introduced the American Renewable Biomass Heating Act to assist families in purchasing biomass heating and hot water equipment. This legislation extends and expands on the existing tax credit to provide families with a real incentive to switch to renewable biomass heat and save on energy bills.
"Biomass is a clean, renewable form of energy that is plentiful throughout New Hampshire," Congressman Paul Hodes said. "It will help create new industry and jobs throughout New Hampshire and it will help reduce energy costs for Granite Staters while protecting our environment. This legislation will expand on the work we have already started."
"Congressman Hodes really understands what a tremendous opportunity we have in this region to use biomass to help people heat their homes," said Steve Walker, President and CEO of New England Wood Pellet. "This legislation will help our region reduce our reliance on oil for heating and help bring new green jobs to our economy. We applaud his leadership."
In 2007, Congressman Hodes introduced legislation to establish the first ever tax credit for families to install biomass heating systems. On January 1, 2009, a residential tax credit became law to help more families afford biomass stoves.
Biomass is broadly defined in the credit to include plant-based fuels that can be found in every region of the United States. A recent MIT study suggests that heating homes with biomass results in a 75% reduction of carbon emissions compared to using heating oil.
The American Renewable Biomass Heating Act would expand the existing tax credit to include biomass stoves, furnaces and boilers. It would also extend the credit through 2013, and increase the maximum amount of the credit to $6,000, to compensate for the initial costs of installing biomass heating equipment.
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