On June 23, 2012, New Hampshire enacted House Bill 1490, which revised the state's investment plan for its RGGI CO2 allowance proceeds, effective January 1, 2013. Under the bill, New Hampshire's proceeds from the sale of RGGI CO2 allowances will now supplement the electric distribution company CORE energy efficiency programs, funded by the System Benefits Charge (SBC) funds. Commission Order No. 25,425 authorized approximately $3.2 million in RGGI funds for energy efficiency programs in 2012. Approximately $1.4 million was spent, with the remaining $1.8 million carried over to programs in 2013. In 2012, residential programs accounted for approximately 44 percent of the spending; and commercial and industrial programs accounted for approximately 56 percent of the spending. Projected cumulative lifetime energy savings due to 2012 spending are expected to be $6 million, or $4.35 per dollar spent.
Analysis conducted by the University of New Hampshire Carbon Solutions New England program found that as of June 2012, projected cumulative energy savings due to GHGERF funded projects ($21.8 million spent) are expected to be $107.8 million through 2030 based on current energy prices. For every dollar spent as of June 2012, the projected expected return is $4.95 in energy savings.
Program Highlight: New Hampshire Pay for Performance Program (NH P4P)
Currently in its third year, the New Hampshire Pay for Performance Program (NH P4P), has not only met, but is surpassing the energy savings goals that were set forth when the program launched. With funding from the GHGERF, TRC Energy Services designed and manages the NH P4P Program which has delivered comprehensive energy efficiency solutions to 47 commercial, industrial, and municipal facilities across the state, totaling more than $12 million in construction (see map at http://nhp4p.com/program-impact).
Through a network of approved Partner firms, energy reduction plans are developed for each project to meet at least a 15 percent reduction goal in total facility source energy consumption, using EPA's Portfolio Manager benchmarking tool to set the baseline. Eligible participants are paid incentives based on energy savings, up to $300,000 and capped at 50 percent of project cost.
With a whole-building approach to energy savings, NH P4P estimates that it has saved more than 10.6 million kWh of electricity and 71,000 mmBTU of fossil fuels – resulting in projected GHG reductions of more than 12,000 short tons.