One of the benefits of geothermal heat pumps is that they use 25% to 80% less energy than conventional heating or cooling systems. This translates into a geothermal heat pump using one unit of electricity to move three units of heat from the earth. Whether a geothermal heat pump is appropriate for you will depend on a few things: the land needed for either a well or horizontal loop and the infrastructure of the house, including the insulation and the existing heating system.
National Grid's GEO Limited-Time Offer gives you the chance to benefit from increased GSHP incentives:
Category 3 GSHP Incentive Rate:
From $1,500 to $3,000
These savings are available for all NYS Clean Heat projects with the following conditions:
Submit a Signed Customer Agreement with Thermal Associates between 1/1/2025 & 3/14/2025.
- Agreement must show a signed customer commitment for the GSHP install.
- Signature must be dated between 1/1/2025 – 3/14/2025.
Installation Date: Must fall between 1/1/2025 and 12/5/2025.
Application Deadline: All applications must be submitted by 12/5/2025.
Additional Incentive Information:
25% Gas Constrained Kicker: A 25% gas-constrained bonus will still be added to qualifying National Grid applications during this period, following the usual capping logic (50% of total project costs).
Queensbury Home Renovation Project
For a typical home renovation project installing a WaterFurnace 7 Series GSHP, here’s a breakdown of potential savings:
Standard NYS Clean Heat Rebate
Contract Price: $40,800
Approx. NY State Rebate: $4,435
Approx. Federal Tax Credit: $10,909
25% NY State Tax Credit: $5,000
Net Price After Incentives
$20,455
Increased Incentive NYS Clean Heat Rebate:
Contract Price: $40,800
Approx. NY State Rebate: $10,870
Approx. Federal Tax Credit: $8,979
25% NY State Tax Credit: $5,000
Net Price After Incentives:
$15,951.00
This Limited-Time Offer ends soon. Make sure to submit your agreement and lock in your savings before the deadline!
Contact us today to learn more and schedule your consultation. We’re here to guide you every step of the way to a more efficient and comfortable home.
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