Energy Efficiency Incentive Programs
Incentive Programs May Have Changed - Contact Us at energyandenv@cornell.edu for Up to Date Information
There are three tiers of incentive programs for residents based on household income that can cover all or part of the cost of improvements. There is also low-interest loans available.
The Inflation Reduction Act (IRA) helps New Yorkers get the latest clean energy technologies and equipment that will save energy for years to come. From the cars we drive, to the ways we heat and cool our homes, the IRA is helping New Yorkers choose clean energy technologies that improve their health, safety, and quality of life.
Since 2023, IRA tax credits have been available to New Yorkers. As of June 2024, income-eligible New Yorkers can access IRA rebates to get upfront discounts on home energy upgrades. Both IRA tax credits and rebates can help homeowners cut energy use, save more money, and contribute to a cleaner, healthier planet. Now is the time to start your clean energy future. Learn more here.
All NYSERDA programs are income and household size based, depending on eligibility here are the programs and incentives offered:
TIER I
EmPower+ - If your family makes less than 60% of the State's median income ($65,820 for a family of four in 2022-2023), you may qualify for the EmPower+ program, which covers some of qualifying energy improvements like insulation, air sealing, and more up to $10,000. Some exceptions apply.
The Weatherization Assistance Program (WAP), a federal program, uses the same eligibility criteria as Empower + (see above), and provides additional energy improvements at no cost.
Both of these programs are available for homeowners as well as renters, though landlord permission is required.
Comfort Home
Comfort Home - This NYSERDA program provides rebates up to $3,000 for sealing and insulating an attic and rim joists to sealing and insulating attics, walls, and windows . It is currently available to all counties in the Mohawk Valley Region.
TIER III
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MUNICIPAL ELECTRIC CUSTOMERS - SPECIAL REBATES AVAILABLE
Customers of municipal electric utilities may not be eligible for some of the NYSERDA programs above like EmPower NY and Assisted Home Performance. However, many municipal electric utilities have special rebates and programs to help with energy efficiency through the Independent Energy Efficiency Program (IEEP). See what your municipal electric utility offers here.
FINANCING
In addition to the rebates mentioned above, there are a number of financing options to help pay for energy-related improvements. Contractors and our Community Energy Advisors can provide additional information on these options, but we provide an overview below.
ON-BILL RECOVERY (OBR) LOAN
With the On-Bill Recovery (OBR) Loan, your loan payments are paid as part of your utility bill. Estimated average monthly energy cost savings must be greater than monthly loan payments to use the OBR loan. So your energy savings essentially pay for your work. Loan amounts of $1,500-$25,000 with terms of 5, 10, or 15 years. Interest rates are subject to change. Learn more here.
SMART ENERGY LOAN
The Smart Energy Loan is a traditional loan that you repay monthly via check or automatic payment (ACH). Technologies covered: Purchase and installation of solar photovoltaic systems, ground source heat pumps, air source heat pumps, and energy efficiency improvements. Loan amounts from $1,500 - $25,000. Interest rates are subject to change. More info here.
OTHER FINANCING OPTIONS & LOCAL BANKS
Your contractor may be able to offer you other financing options or you can apply for a loan through a local bank. Home equity loans can often be useful for energy-related improvements. Some banks even offer special loans for energy projects which you can take advantage of.
Your local utility company may offer incentives and financing for energy efficiency upgrades, such as rebates for purchasing energy efficient appliances.
Commercial properties may be eligible for Property-Assessed-Clean-Energy (PACE) financing through the Energy Improvement Corporation (EIC).