Senator Gregg Supports Encouraging New Energy Sources, Supports Legislation Providing Tax Credit For Wood Pellet Stoves And Boilers

Press Release

U.S. Senator Judd Gregg (R-NH) today cosponsored The Renewable Energy Tax Parity Act to provide consumers with up to a $2,000 credit on wood pellet stoves and boilers. There are over 800,000 pellet stove or boiler owners currently in the U.S., and pellet production is expected to grow about 50% this year. Senator Gregg joined Senators John Sununu (R-NH) and John Thune (R-SD) in sponsoring this legislation.

Senator Gregg stated, "This bill will not only benefit consumers in New Hampshire and across the nation by helping them reduce their taxes and home heating costs, but also encouraging the market for wood pellets as a heating fuel, helping New Hampshire's timber and pellet industries. New Hampshire has a proud history of innovation and using our resources responsibly. By encouraging the growth of a wood pellet market, we are fostering the responsible use of our resources in a highly efficient and environmentally friendly way. As a long time supporter of renewable energy, wood pellet heat makes a lot of sense. It emits 75 percent less carbon dioxide than petroleum products and fewer carbon dioxide emissions mean a reduced rate of global warming."

"We are grateful to Senator Gregg for joining Senator Sununu and other colleagues in recognizing the contribution that biomass energy can make to helping America secure its energy future. The Renewable Energy Tax Parity Act will put biomass heat on par with solar electric solar heat and fuel cell technologies by providing a powerful financial incentive to homeowners to replace non-renewable fossil energy systems with clean, efficient, carbon-neutral and locally-produced biomass heating systems. New Hampshire once again leads the way with sensible energy policies that will benefit our economy and environment," Steve Walker, President and CEO of New England Wood Pellet LLC in Jaffrey NH.

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