LaMorte Electric | NYSERDA Heat Pump Program

NYSERDA Air Source Heat Pump Program

5/13/2019

NYSERDA, the New York State Energy Research and Development Authority, has just expanded it's Air-Source Heat Pump (ASHP) Program as of April 2019. This program is similar to the better known Solar Program which offers rebates and financing options for solar panel projects. Previously this ASHP Program offered a $500 rebate on the installation of high efficiency cold-climate air-source heat pumps. NOW, for whole house applications there is an expanded rebate program which offers a rebate to the customer of $1000 per ton of the outdoor unit!

Another very important part of this new program expansion by NYSERDA is the addition for customers to get low interest, no money down financing through the state for these systems. The interest rates range from 3.49-7.49% where lower income households can qualify for the lowest rate! This new option to finance these systems will significantly increase it's affordability especially for low income households where these systems might be a no brainer in efficiency and cost, but there are issues in getting a significant chunk of money together at one time.

There are two types of financing available: On-Bill financing and Smart Energy Loans.

On-Bill Financing:
What are they? Residential On-Bill Recovery loans make it easy to pay and manage installation costs by adding them as a line item to your monthly utility bill. If you decide to sell your home and move, the unpaid balance of the loan can easily be transferred to the new homeowners.
Terms. Interest rates are subject to the customer’s credit qualification. We encourage you to use our interest rate estimator to determine which rate may be available to you. Rates are subject to change.

Smart Energy Loan:
What are they? Through our residential Smart Energy loans, your repayments are made directly to NYSERDA’s loan provider.
Terms. Interest rates are subject to the customer’s credit qualification. We encourage you to use our interest rate estimator to determine which rate may be available to you. Rates are subject to change.

This program expansion is an extension of the Green Jobs Green New York initiative. New York State currently has the goal of cutting our green house gas emissions by 80% by 2050. Air-source heat pumps are going to be a large part of that. They are an environmentally friendly and efficient way to heat your house and/or your business.

13 Comments

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9/29/2022 02:34:59 am

In a manner akin to how your refrigerator works, heat pumps transfer heat from one area to another. Heat is absorbed in one place and released in another using a refrigerant closed loop, a compressor, and an expansion valve. A place can be heated or cooled using this method. Heat pumps have the potential to be incredibly energy-efficient since they circulate heat rather than burning fuel to release it. No greenhouse emissions are released to heat and cool a home if the electricity used to operate the heat pump is generated from carbon neutral sources (such as wind or solar power).

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10/3/2022 10:23:44 am

Getting regular maintenance will not only keep your home comfortable during winter, but it will also improve your homes energy efficiency and help to reduce the likelihood of heat pump breakdowns, meaning less need for repairs. The more efficient your heat pump is, the less excessive your heating bills will be. An HVAC maintenance plan will ensure that your heat pump gets the professional attention it needs to stay strong all winter long.

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Jim Thomas link

5/19/2023 07:39:28 am

I recently came across your blog post titled "NYSERDA Air Source Heat Pump Program" and I wanted to express my appreciation for providing valuable information about this program and its benefits for homeowners in New York.

Your article effectively highlights the NYSERDA Air Source Heat Pump Program as an excellent opportunity for homeowners to make their homes more energy-efficient and environmentally friendly. The program's focus on incentivizing the installation of air source heat pumps demonstrates the state's commitment to promoting clean and sustainable energy solutions.

I found it particularly helpful that you explained the basics of how air source heat pumps work and their advantages over traditional heating and cooling systems. By highlighting their energy efficiency, cost savings potential, and ability to provide both heating and cooling, you provide compelling reasons for homeowners to consider this technology.

Furthermore, your article provides an overview of the NYSERDA program's eligibility requirements, available incentives, and the process for participating. This information is crucial for homeowners who are interested in taking advantage of the program and making informed decisions about their home heating and cooling systems.

Additionally, I appreciate that you addressed the environmental benefits of air source heat pumps. By mentioning their ability to reduce greenhouse gas emissions and contribute to a more sustainable future, you highlight the positive impact that homeowners can have on the environment by adopting this technology.

Your blog post not only educates homeowners about the NYSERDA Air Source Heat Pump Program but also empowers them to take proactive steps towards a more energy-efficient and sustainable home. By providing valuable information and resources, you make it easier for homeowners to navigate the program and make informed decisions about their energy choices.

Mellisha Scarlet link

2/4/2024 07:48:10 am

The expansion of NYSERDA's Air-Source Heat Pump Program is a game-changer, especially with the increased rebate for whole house applications. A $1000 rebate per ton of the outdoor unit is a substantial incentive for homeowners looking to invest in energy-efficient heating solutions.

Jacob C link

6/20/2024 07:00:14 am

Thanks ffor this blog post

Value Market Research link

8/7/2024 04:07:21 am

The NYSERDA Air Source Heat Pump Program is a commendable initiative aligning with the global trend of increasing heat pump adoption. With the global heat pump market projected to grow from USD 87.47 billion in 2023 to nearly USD 190.28 billion by 2032, reflecting a robust CAGR of 9.02% (Value Market Research), programs like NYSERDA's are pivotal in driving this growth. By promoting air source heat pumps, NYSERDA is not only contributing to the expansion of this market but also supporting the broader goals of energy efficiency and reduced greenhouse gas emissions. This program exemplifies how targeted initiatives can accelerate the transition to sustainable heating solutions and bolster market growth.

https://www.valuemarketresearch.com/report/heat-pump-market

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