Financial Incentives for Energy-Efficiency Home Improvements

Con Edison residential customers will save energy and money with new financial incentives for energy-efficiency home improvements through the New York State Energy Research and Development Authority (NYSERDA's) Home Performance with ENERGY STAR(R) Program.

Customers save on the initial costs of home improvements with special financing as low as 1.99 percent or up to 25 percent cash back. The improvements through Home Performance with ENERGY STAR will allow customers to save for years to come through energy bills that can be reduced up to 40 percent.

"Making energy efficiency improvements in a home helps combat skyrocketing energy costs, creates a healthier living environment and reduces greenhouse gas emissions that contribute to global warming," said Paul D. Tonko, NYSERDA President and CEO. "Our enhanced incentives will help Con Ed customers save thousands of dollars on their initial efficiency investments, while also saving hundreds each year on their energy bills. Saving energy, being good stewards of the environment and investing in a strong societal commitment to future generations have never been a better investment."

The first step toward achieving the array of benefits that accompanies making energy efficiency improvements is to schedule a Comprehensive Home Assessment with a Building Performance Institute (BPI) Accredited Home Performance contractor by calling 1-877-NY-SMART. The contractor will test the home and identify where energy-efficiency improvements can be made by evaluating heating and cooling equipment, insulation levels, and air leakage. Homeowners will receive a full report detailing recommended improvements, the cost of making those improvements, and available financial incentives. The contractor will also estimate monthly savings on energy bills as well as the length of time each improvement will take to pay for itself. The assessment will provide you information on the most cost-effective energy improvements. You decide which improvements to make on your home.

Using the facts and recommendations of BPI contractors and the detailed evaluations, consumers can choose among the improvements with the greatest financial and environmental impact. When the contractor has completed all the selected measures, the home will be tested again to verify that the projected energy savings are actually occurring.

"Customers can improve their home comfort from season to season and save energy through NYSERDA's Home Performance with ENERGY STAR Program. Now energy-efficient home heating equipment and weatherization is even more affordable with these special financial incentives for Con Edison customers," said Rebecca Craft, director, Energy Efficiency Programs, Con Edison.

For a limited time, Con Edison residential customers who make energy- efficiency improvements such as replacing their hot water heaters or heating equipment, installing insulation or having air sealing done, in addition to upgrading their windows and doors, appliances, lighting, or cooling equipment, are eligible for generous incentives. The financial incentives range from 1.99% to 5.99% APR financing on up to $20,000, or 10% to 25% cash back (up to $6,500), depending on the work being done to the home.

The financial incentives are determined for each consumer by the type of heating system being installed in the home and the energy-efficiency measures undertaken. Participating BPI Accredited Home Performance contractors will work with residents to identify financial incentives for which they may qualify.

Additional incentives are available to income-qualified customers through NYSERDA's Assisted Home Performance with ENERGY STAR Program, which covers up to 50% of the costs associated with making energy-efficiency improvements, up to $5,000 per household and $10,000 for a two- to four-family building.

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