Switching to renewable energy is one of the smartest long-term investments you can make for your home. To help make geothermal systems more accessible, New York homeowners may be eligible for utility rebates and state tax credits that can significantly offset installation costs. At NOCO, we help you understand which incentives apply to your home and guide you through the process from start to finish.
Incentives That Lower Your Costs
Geothermal installations may qualify for multiple incentives designed to lower upfront expenses. Eligibility and incentive amounts vary based on your utility provider, system type, and project details.
There are two primary incentives available to help reduce upfront geothermal installation costs:
-
Geothermal Utility Rebate
A direct rebate from your local utility provider, applied to your project cost. -
State Tax Credit (25%)
A New York State non-refundable tax credit of 25% of system cost after clean heat rebate, capped at $10,000. (Refundable for households that are under certain income thresholds)
Geothermal Incentives — National Grid Customers
| Incentive Type | Rebate Amount |
|---|---|
| Utility Rebate — New Construction | $14,000 |
| Utility Rebate — Retrofit | $20,000 |
| Utility Rebate — Retrofit (DAC) | $25,000 |
| NY State Tax Credit | 25% of project cost, up to $10,000 |
Geothermal Incentives — NYSEG / RG&E Customers
| Incentive Type | Rebate Amount |
|---|---|
| Utility Rebate — New Construction | $10,000 |
| Utility Rebate — Retrofit | $17,000 |
| Utility Rebate — Retrofit (DAC) | $18,000 |
| NY State Tax Credit | 25% of project cost, up to $10,000 |
Get the Most From Geothermal Incentives
Maximizing available incentives requires more than selecting the right equipment. Proper system design, accurate installation, and correctly completed paperwork all play a role in securing eligible rebates and tax credits.
NOCO has decades of experience helping homeowners across Western and Upstate New York transition to energy-efficient solutions. Our team manages both installation and incentive guidance, helping ensure you receive the full benefits available to your project.
Interested in learning more about how geothermal could work for your home? Call NOCO at 716-833-6626 or fill out the form below to schedule a consultation and review your savings options.
