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Inflation Reduction Act adds certainty for CT’s Enviro Power, other green technology producers – Hartford Business Journal

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For a South Windsor-based producer of super-efficient boilers, the August passage of the $739 billion Inflation Reduction Act means a greater degree of certainty.

Enviro Power CEO Dan Nadav said the law provides incentives through 2032 that make his boilers competitive with conventional designs.

Nearly half of the law’s funding is targeted at promoting renewable, green and energy-saving technologies.

“The IRA is really an energy bill,” Nadav said. “The Inflation Reduction Act is around 700 pages; 450 is energy.”

Enviro Power’s “SmartWatt” boilers — which just went into production in October — harness heat and steam that would otherwise be wasted to fuel a turbine generator. They have already been installed, among other places, in a student dormitory complex at Wesleyan University and in a 25-unit apartment building that was formerly a historic Simsbury inn.

These boilers retail for $25,000. That price drops to between $19,000 and $20,000 after government incentives, Nadav said.

In addition to the launch of serial production, Enviro Power said it recently achieved another major milestone with safety certification of its SmartWatt boiler from Underwriter Laboratories.

The SmartWatt boiler is a simple and sensible way to reap energy-cost savings while going green, Nadav said. It can be used in place of a conventional boiler when the time comes for a replacement. Right now, however, demand is not the problem.

Nadav said Enviro Power is struggling with the same supply chain issues that are afflicting many industries. Orders that used to take eight weeks now arrive in 52, he said. The company set a target of 30 boilers for its first production run, which Nadav expects to complete by February.

“Most of the units are already spoken for,” Nadav said.