Glens Falls GeoThermal Heat Pump Installation
A 4,157 sq. ft. ranch home in Glens Falls has a heating need of 41,640 BTUs. The heating load is the amount of energy required to keep the home comfortable. It’s an important factor in designing a home’s heating and cooling system.
While the home could use natural gas, we've designed a geothermal HVAC system that provides 41,700 BTUs, covering 100% of the heating needs.
Incentives with updated NYS Clean Heat Rebate:
Contract Price: $33,075
Includes ductwork, controls, & electric backup heat.
National Grid NYS Clean Heat Rebate: -$12,533
30% NY State Tax Credit: -$9,922
Net Price After Incentives:
$10,620
New York State offers incentive programs to keep your home clean and green while saving money on installations of your new system!
Residential Customers
On August 15, 2022 the Inflation Reduction Act (IRA) was signed into law extending the federal tax credit for geothermal heat pumps in the residential sector. Credits have been extended to December 31, 2032. For 2022 to 2032 the credit is 30% and in 2033 the tax credit will be 26% and 2034 will be 22%.
Residential Customers with a cap of $5,000
In the NYS Budget passed in April of 2022, a NYS Income Tax Credit of 25% with a cap of $5,000 was put in place for qualified residential geothermal heat pump systems. To be eligible the residence needs to be in NYS and is the taxpayer’s primary residence at the time the geothermal energy system is placed in service.
Electric Utility Programs
The rebate amount available to each project depends on the project size and the heat pumps capacity. Typical residential projects get $1,500 per 10,000 BTU of the heat pump capacity. So a typical 4 ton residential system will qualify for about $6,000. Rebates are mailed directly to the homeowner with 6-8 weeks of project completion.
Residential Gas Rebates
Save energy at home with natural gas space and water heating rebates. Older equipment uses more energy to run and keep you comfortable. New equipment can reduce your natural gas usage and help decrease your utility bills. Rebates are available for furnaces, boilers, combination boiler-water heater, energy recovery ventilators (ERV), and smart thermostats.
Residential Customers
On August 15, 2022 the Inflation Reduction Act (IRA) was signed into law extending the federal tax credit for geothermal heat pumps in the residential sector. Credits have been extended to December 31, 2032. For 2022 to 2032 the credit is 30% and in 2033 the tax credit will be 26% and 2034 will be 22%.
Residential Customers with a cap of $5,000
In the NYS Budget passed in April of 2022, a NYS Income Tax Credit of 25% with a cap of $5,000 was put in place for qualified residential geothermal heat pump systems. To be eligible the residence needs to be in NYS and is the taxpayer’s primary residence at the time the geothermal energy system is placed in service.
We are happy to explore all your options for your next heating and cooling projects, both new construction and retrofit. We will analyze your goals and provide you with an estimate outlining the products available, at what cost and the return on investment.
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