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NYSERDA Launches $15 Million Initiative to Spur Ground Source Heat Pump Market to Help Combat Climat

Individual Projects can Receive up to $1 Million Rebate Depending on Size Supports State’s Goal to Reduce Greenhouse Gas Emissions 40 percent by 2030

The New York State Energy Research and Development Authority (NYSERDA) today announced the availability of $15 million in rebates for the installation of ground source heat pump systems for residences, businesses and institutions. Renewable heating and cooling technologies such as ground source heat pumps not only provide environmental benefits but also provide energy bill savings, increased comfort levels and health benefits compared to conventional heating and cooling technologies. Increasing the use of this technology supports Governor Andrew M. Cuomo’s energy goal to reduce greenhouse gas emissions 40 percent by 2030. The technology replaces oil- and gas-fired heating and cooling sources, thereby reducing greenhouse gas emissions. The funding was first proposed in February as part of the state’s Renewable Heating and Cooling Policy Framework, which outlined various options to jump start the industry and stimulate the clean energy economy. NYSERDA issued the framework and will administer the rebate. In addition to the rebates for ground source heat pump systems, the framework set out policy options and market-based solutions to be implemented over the next few years, and identified longer-term approaches to support market growth of renewable heating and cooling technologies such as air-source heat pumps, solar heating and cooling, and biomass. John B. Rhodes, President and CEO, NYSERDA, said, “This investment is vital to growing the industry and will help advance Governor Cuomo’s aggressive energy goals, including reducing greenhouse gas emissions 40 percent by 2030. Installers and their customers will both benefit from this program and, as a result, provide a cleaner environment for all New Yorkers.” The amount of funding available to each project will depend on its size. Smaller projects (e.g., residential and small commercial buildings) can receive up to $15,000 when the installation is completed. A typical residential system will qualify for about $6,000. Larger projects (e.g., multi-family, hospitals and college campuses) can receive up to $500,000 per building with payments being made throughout the project. No single site can receive more than $1 million. Rebates will be available to qualified installers for two years or until all funds have been exhausted. The total amount of the rebate will be deducted from the total cost of the system, thereby passing the savings along directly to consumers. Any ground source heat pump system for which installation was complete on or after January 1, 2017, and that meets the requirements of the program, is eligible. Only participating, qualified designers and installers may submit applications. To become a participating designer or installer, or to see a list of those already participating, visit NYSERDA’s website. Funding will be provided through the Clean Energy Fund. For more information on renewable heating and cooling technologies and this funding visit NYSERDA's website. [if !supportLineBreakNewLine] [endif]

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