What is included in this $5 Billion in Funding? (Items below taken from NY.gov)
The fund will operate four major portfolios:
Within the $5 Billion allocated to reaching NY's Green Goals is $454 Million that was given to the public utilities for new incentives to install heat pumps!
How Can You Benefit From These Funds:
NYSERDA Grant Transitions to Utility Grant: The March deadline to get NYSERDA funding ($1,500 per ton towards the cost of a geothermal system) is still in place, however, once that opportunity expires, the utility companies grants/incentives will be available. They have yet to release their incentive programs to the public; check back regularly for updates.
Financing Options: Combining the available incentives, and a low interest rate loan to switch to geothermal from fossil fuels can mean instant savings. Customers enjoy monthly payments as low as $125/month through Enerbank or NYSERDA's loan option.
NYSERDA LOAN QUALIFICATION GUIDE:
Wondering what your options are for your home? Contact us below! Quotes are always free.