Air source heat pumps
$500 per installed system for single-family and multi-family residences (NYSERDA – August 17, 2017 – $10.95 Million in total incentives)
Ground Source Heat Pumps
NYS Ground Source Heat Pump Rebate Initiative – up to $15,000 per home (NYSERDA – February 8, 2017 – $15 Million in total incentives)
Federal Tax Break – The reinstated GHP tax credits are retroactive to Jan. 1, 2017, and extended to Jan. 1, 2022. The language also changes an important consideration for commercial GHP projects, making them eligible if commenced by Jan. 1, 2022 rather than placed in service. However, the credits decline during this time: 30% if the system is installed between 2017 and 2019, then drops to 26% in 2020 and 22% through 2021. (Source: NY-GEO)
Funded by the New York State Energy Research and Development Authority (NYSERDA), the Hudson Valley Heat Pump Program is a unique opportunity to have unbiased, third-party technical experts oversee the sizing, design and installation of an air source cold climate heat pump in your home, including real-time monitoring of your energy usage.
The program combines available incentives and includes an additional discount on Mitsubishi *air* source heat pumps (Note: these are *not* ground source heat pumps, but a widely used device that is installed in your wall and efficiently heats, cools and dehumidifies).
This year, up to 15 homeowners will have an opportunity to realize substantial energy and carbon savings on a first come, first served basis. Sign up here.
- Air-Source Heat Pump NYSERDA Participating Installers [PDF] – Air-source heat pumps use the difference between outdoor and indoor air temperatures to keep your home a comfortable temperature all year round. Recent technology advancements in air-source heat pumps have made them a strong alternative for space heating in colder regions like New York State. In homes heating with oil and propane air-source heat pumps can save money on energy bills and lower your carbon footprint.
- Ground Source Heat Pump Rebate Contractors – Participating contractors can install a ground source (“geothermal”) heat pump system and submit all paperwork to NYSERDA for your rebate.