The Thermal Energy Investment Program (TEIP) provides financial incentives to businesses, municipalities, educational institutions, and nonprofit entities located in Maine for the installation of new thermal energy derived projects. Eligible projects include conversion of fossil fuel-fired boilers to wood-fueled boilers or boilers using biofuels derived from wood, as well as installation of new wood-fueled boilers or biofuel boilers. The program defines small projects as those with installed heating capacity of less than 600,000 Btu/h and large projects as those with capacity greater than 600,000 Btu/h.
Applicants must substantially share in the cost of projects. Eligible participants include businesses, municipalities, educational institutions, nonprofit entities, and governmental entities. Projects involving refurbishment or maintenance of existing equipment are not eligible, though expansion of system heating capacity of existing heating systems is permitted. Projects cannot receive incentives from multiple Efficiency Maine programs including C&I Prescriptive Initiatives, C&I Custom Programs, or the Biomass Boiler/Furnace Rebate Program.
The program offers incentives of 35% of combined equipment and labor installation costs as funding permits. An additional 10% incentive is available if projects include installation of advanced emission controls or BTU meters. All costs associated with shipping and equipment warranty are the responsibility of the applicant or their contractor/vendor. The Trust reserves the right to reject applications if project costs are deemed unreasonable.
The Trust will accept rolling applications starting August 1, 2025, and will review applications in order received, making awards to applicants meeting criteria as funding allows. Program participants must complete a Preapproval Application (Attachment-A) as part of the application process.