Plug Into Energy Savings
Given our customers' overwhelming interest and participation in the Heat Pump Pilot Program, we are happy to announce that we've added 100 more rebates due to additional funding for the program.
The Heat Pump Pilot Program provides financial incentives for residential and small commercial customers to install energy efficient ductless heat pumps. The program has two components:
- Rebates of $600 to customers who commit to the program. Customers applying for a rebate only will receive a check and those approved for a loan will receive a credit to the principal balance.
- Optional Utility financing - borrow the money to install an eligible heat pump from Bangor Hydro or Maine Public Service, and make payments via your utility bill. We are offering a rate of 7.75% APR, for up to five years, with no application fee, closing costs, or prepayment penalty.
The Heat Pump Pilot Program is intended to encourage the use of efficient heat pumps as a supplemental heating source in those areas of your home or business where you spend the most time.
- Why consider a mini-split heat pump?
- Will a heat pump help me reduce my heating cost?
- Am I eligible?
- How do I apply?
Why consider a mini-split heat pump?
- An efficient heat pump can pay for itself through energy savings.
- It's a clean, comfortable, and convenient supplemental heat source.
- Heat pumps not only heat, they cool and dehumidify.
- Customers who heat with heat pumps may qualify for a lower electric heat delivery rate for all electricity used during the heating season. Please remember that while your heat pump is intended to offset your expenses from other fuel sources, your electricity will increase.
Will a heat pump help me reduce my heating cost?
At today's prices, we estimate that using an efficient heat pump to supplement your existing heat source will reduce your overall heating costs. Calculate your energy savings using the Cost of Heating Comparison Calculator on the Efficiency Maine Website.
The money saved each year is expected to be enough to pay for the heat pump in three to five years. Once the heat pump is paid for, those savings go right back into your wallet. The estimated heating cost savings are expected to cover the cost of your heat pump loan. Actual performance will vary site to site, but we expect heat pumps to be a great opportunity for our customers to take control of their energy costs and save.
Am I eligible?
You may be eligible if:
- You are a Bangor Hydro or Maine Public Service residential or small commercial customer in good standing.
- You currently use oil, propane, electric resistance heat or kerosene as your primary heat source, and you spend at least $1,400 on heat annually.
- You are purchasing/installing a mini-split heat pump with an HSPF rating of 10 or greater. Your installer is registered to install air-source heat pumps with Efficiency Maine
- The home or business where the heat pump will be installed is owner-occupied.
- The estimated energy savings associated with your new heat pump must cover the cost of the equipment, installation and loan (optional) over five years. See the Estimated Energy Savings chart below to see if you may be eligible for a rebate or loan.
Your rebate will be reserved when you submit your rebate. You will have 60 days to complete the installation and claim your rebate.
How do I apply?
Use our online application. You will need to know :
- Approximately how much you spend to heat your home over the course of a year.
- Which registered installer will be installing your heat pump.
- What model of energy efficient mini-split heat pump you will be installing.
You also may apply by calling Bangor Hydro's customer service center at 207-947-2414 or 800-499-6600 or Maine Public Service's customer service center at 207-760-2300 or 877-655-4448.