Mass Save has made major changes to their rebate and 0% interest HEAT loan program in 2024. Because of the significant impact these changes have on the cost of system replacements, we thought it was important to share this information right away!
Most notably, Mass Save is phasing out the 0% interest, 84-month HEAT loan program effective April 30, 2024, for any fossil fuel installations. This includes the installation of natural gas, propane (LP) and oil furnaces, boilers and water heaters. If you are interested in replacing your system(s) prior to the end of the program, please reach out to us right away for a free estimate. In order to qualify, customers will need to have a Mass Save home energy audit and work with us to submit loan paperwork for approval prior to this date. We can help our customers to schedule an audit and get Mass Save paperwork through. But, this process will need to be started soon to ensure we meet the deadline. Please note, the Mass Save 0% interest HEAT loan program will stay active for air source heat pumps and heat pump water heaters after April 30, 2024.
Once the program ends, Priority One Plumbing & Heating will continue to work hard to provide competitive financing options for our customers. However, other financing options will have some cost associated with them (interest and/or fees). So, if you have a system that you plan to replace in the next few years, it may be best to consider doing the replacement sooner, to save on these costs.
In addition to phasing out the 0% interest HEAT loan program for fossil fuel systems, Mass Save will also be phasing out all rebates for fossil fuel systems for any systems installed after August 31, 2024. The current rebates can be found here.
Once these rebates are phased out, the federal tax credits available through the Inflation Reduction Act will remain. Information regarding federal tax credits can be found here.