An Act advancing renewable heating solutions for the Commonwealth

This bill creates a new state fund to support the development and installation of renewable heating systems, such as heat pumps and renewable hydrogen, by using money collected from alternative compliance payments. It also expands the types of entities eligible for tax benefits and introduces a refundable tax credit for businesses producing renewable heating fuels. Additionally, the legislation provides a 30 percent tax credit for homeowners and businesses who purchase and install approved renewable heating equipment, allowing them to receive a refund if the credit exceeds their tax liability. These measures aim to reduce carbon emissions by encouraging the adoption of cleaner thermal energy sources across the Commonwealth.