If your building’s HVAC system is nearing the end of its useful life, Con Edison’s newly increased geothermal incentives can dramatically improve the economics of upgrading by lowering project costs.Why geothermal now? Heating and cooling systems drive most of the energy use and carbon emissions in New York buildings. Geothermal replaces fossil‑fuel heating with ultra‑efficient, ground‑sourced heat pumps. And Con Edison is now offering its highest incentives ever to accelerate geothermal adoption.Con Ed Clean Heat Incentives:
- New Construction: Starting at $175/MMBTU saved
- Retrofits: Starting at $400/MMBTU saved (double the previous level)
- Con Edison TCT Incentive: Covers 50% of testing costs, up to $40,000
- NYSERDA FlexTech: Covers 50% of early‑stage engineering studies
- Federal Investment Tax Credit: Up to 40% of eligible geothermal project costs, including Direct Pay for tax-exempt entities