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There’s Still Time for New York Homeowners to Use These Energy Rebates

Originally posted on Men's Journal | By Emily Fazio | Last updated Oct 21, 2024 7:00 AM ET

The fight against climate change continues as local and federal teams look to ways to help homeowners switch to clean energy. Over the last few years, many homeowners have capitalized on available incentives and rebates for systems like solar, energy-efficient HVAC, and eco-friendly water systems. These household system upgrades not only lower energy consumption and reduce monthly bills but also improve home comfort and increase market value.

While most states have statewide programs as well as local programs, three states where homeowners are most incentivized to switch are Massachusetts, New York and California.

"In New York, NYSERDA offers incentives through the EmPower+ program for income-eligible New Yorkers," highlights Max Veggeberg, CEO and Founder of Tetra, a tech-enabled home services company that helps homeowners adopt energy-efficient heating and cooling solutions and maximize the benefits of doing so. "Up to $8000 for heat pumps and $1750 for heat pump water heaters. Other rebate programs are being made through utility companies, the below is a listing of some of the utility-based rebate programs homeowners can take advantage of in New York."

Con Edison Clean Heat Program: Con Edison is offering customers rebates up to $10,000 to install a new more energy-efficient heat pump. Plus, additional incentives for other clean energy appliances like water heaters and smart thermostats.
PSE&G Heat Pump Rebate Program: Provides rebates up to $2,000/12,000 BTU for air source heat pumps that meet specific efficiency requirements. Homeowners can expect rebates of $5,000 on average.
NYSEG Heat Pump Incentives: Rebates up to $1,500/10,000 BTU for air source heat pumps and up to $3,000/$10,000 BTU for ground source heat pumps. Homeowners can expect rebates of $6,000 on average.
Orange & Rockland Heat Pump Program: Offers rebates up to $1,500/10,000 BTU for air source heat pumps and up to $3,000 for ground source systems. Supports the transition to cleaner energy sources. Homeowners can expect rebates of $6,000 on average.
Central Hudson Heat Pump Program: Offers rebates on an average of $5,744 per project. Since 2020, Central Hudson has provided $47 million dollars to help customers install heat pumps

This Homeowner Saved $11,500

Touting the opportunity for homeowners, Tetra shared the below testimonial to highlight how consumers can make the most of the administrative funds and save with discounts, rebates and tax incentives.

As highlighted in the below graphics, Homeowner Jamie, a Westchester parent chose Tetra for its quick and easy process, upfront pricing, and full management of his new outdated heating and cooling system. He was impressed by the company’s handling of everything from financing to coordinating electricians. Now, Jamie has peace of mind as he lives at home with his two teenage daughters, knowing his new HVAC system replaced the outdated heating oil setup, resulting in improved efficiency and reduced maintenance.

Not in New York State? Tap Into These 3 Federal Rebates Instead

"The only rebates/credits available nationwide are federal tax credits," explains Veggeberg. "[Homeowners can use them against] income taxes, depending on what energy efficiency improvements are completed". Available tax credits currently allow savings of up to $3,200 every year.

Federal 25D Geothermal Heating and Cooling Tax Credit

This federal incentive covers 30% of the cost of eligible geothermal heating and cooling systems. It applies to different residential energy-saving upgrades such as heat pumps, solar panels, and solar water heaters. On average, this credit is estimated to be worth $7,200 for income-eligible homeowners.

Federal 25C Energy Efficient Home Improvement Tax Credit

This provides a tax credit for eligible heat pumps up to 30% of project costs, capped at $2,000. Heat pumps are just one of the energy-efficient home upgrades that may qualify for the 25C Energy Efficient Home Improvement Credit. Additional home energy upgrades like doors, insulation, and heat pump water heaters can possibly qualify as well.

Federal 25C Weatherization Tax Credits

This provides a tax credit for those who make weatherization projects or other energy upgrades to improve home energy usage. This includes up to $2,000 for heat pumps, $600 for installations like electrical panels, and $1,200 for additional weatherization measures, like air sealing.

The Benefits of an Energy Audit

Veggeberg reminds residents that an energy audit goes a long way and will help eligible households prioritize their clean energy future. "Other rebates and incentives are available state by state, with specific incentives varying by municipality, in partnership with local energy providers." Be sure to review the map at https://www.energy.gov/save/rebates to learn more about offers for efficiency upgrades by state, or consult with an energy specialist in your area.

This article first appeared on Men's Journal and was syndicated with permission.

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