Tax Incentives and Rebates

There are many tax incentives and rebates available for Hudson Valley Homeowners and Renters right now. Many of these offers can be combined for incredible savings. Learn more below or simply contact us to find out more.

Click to learn more about the programs available

• Central Hudson / Clean Heat Rebate
• Federal IRA Tax Rebates
• EmPower+ (Low Income)
• EmPower+ (Moderate Income)
• Solar Tax Credits

1. Central Hudson / Clean Heat Rebate

- $6,000 or more in savings

Save thousands when you heat and cool your home with the Central Hudson Clean Heat program

There are incredible programs available for heat pumps. Our heat pumps are super energy efficient, and they offer air conditioning and heating all in the same system. They provide a more efficient way to keep your home comfortable all year long, without the use of fossil fuels. And right now, most of our whole-home heat pump upgrade projects qualify for $5,000- $6,000 in rebates. (Note this program can be combined with the Federal IRA program for an additional $2000 in tax credits)

• • Up to $1,000 per 10,000 BTUH if removing your oil tank or previous fossil fuel heating source.
• Up to $700 per 10,000 BTUH if installing advanced controls that turn on existing fossil fuel systems as backup or second-stage heating.
• Up to $500 per 10,000 BTUH of heating capacity if not removing your oil tank or previous fossil fuel heating source.

Let us find out how much you could save. Contact Us.

2. Federal IRA Tax Rebates

Incentives Can Help You Save Thousands On A New HVAC System

Under the Inflation Reduction Act of 2022, federal income tax credits for energy-efficiency home improvements will be available through 2032. Homeowners can take advantage of incentives on a variety of qualifying heating and cooling equipment. Enjoy up front savings and lower energy bills!

Which HVAC Systems Qualify For the Inflation Reduction Act Tax Credit?*

• Heat Pumps – claim up to $2000
• Central AC – claim up to $600
• Furnaces – claim up to $600
• Boilers – claim up to $600

*Qualifying high-efficiency HVAC systems only.

Interested In Learning How You Can Save? Contact Us.

3. EmPower+ (Low Income)

Get up to $10,000 in free improvements

Thousands of Hudson Valley homeowners and renters qualify for up to $10,000 in FREE Improvements

The EmPower+ program is designed to help people on a lower income get up to $10,000 in free improvements to make their homes more comfortable and cut their energy bills, whether they rent or own. Improvements include:

• Free energy-efficient lighting. Energy-efficient lightbulbs can help you save on your utility bills and last longer than traditional incandescent bulbs.
• Home heating systems. New high-efficiency heating systems can help reduce utility bills and offer better comfort than older systems.

It’s based on the number of people in your household and your income. Find your household size/income level below – if you make less, then you qualify. And thousands of people in our area do. This program includes single-family homes, renters and owners of mobile homes.

HOW DO I QUALIFY FOR $10,000 IN FREE IMPROVEMENTS

Tens of thousands of area homeowners and renters qualify for these programs including many people on a retirement income or those working part-time, as well as those currently out of work.

Contact us for guidelines if you have more than 6 people in your household

If you qualify, the cost of the upgrades is zero – everything is FREE, up to $10,000. Contact Us right away to get the home energy upgrades you are entitled to.

4. EmPower+ (Moderate Income)

Save 50% up to $5,000

Even more Hudson Valley homeowners on a moderate income will qualify for 50% of the cost of an upgrade, up to $5,000

The EmPower+ program is designed to help people upgrade their home’s energy efficiency, improve their comfort and reduce their energy bills. Qualification is based on your income and the number of people living in your home. Homeowners can receive 50% of the project cost, up to $5,000. (Note this program can be combined with the Federal IRA program for an additional $2000 in tax credits)

• Upgrades to heating equipment including cold climate air source heat pumps
• Water heaters
• High-efficiency gas heating upgrades

HOW DO I QUALIFY TO SAVE 50% UP TO $5,000

It’s based on the number of people in your household and your income. Find your household size/income level below – if you make less, then you qualify. Tens of thousands of area homeowners qualify for these programs.

Contact us for guidelines if you have more than 6 people in your household

Interested In Learning More? Contact Us.

5. Geothermal Heat Pumps Tax Credit

When you combine both federal and state incentives you may end up paying less than 50% of the cost of the system out of pocket. Financing is available to cover the final cost, and what’s best is geothermal system increases the value of your home – we recommend asking your realtor what they think about selling houses with Geothermal. It’s the most efficient way to heat and cool your home and a great investment for any homeowner

Rebates and Credits on Geothermal Ground-Source Heat Pumps (GSHP)

• Federal Tax Credit: 30% off the total cost of the GHSP system
• State Tax Credit: 25% off installation expenses up to $5,000
• Ground-Source Heat Pump(GSHP): Up to $2,000 per 10,000 Btuh
• Federal Tax Credit: Up to $2,000
• Electric Heat Pump Water Heater: $1,000
• Smart Thermostat: $50
• Outdoor Condenser: $100/unit

Learn more about this incredible option. Contact Us.

6. Solar Tax Credits

The federal solar tax credit and state rebates can significantly offset the upfront cost of installing a residential solar system. The federal tax credit allows you to deduct 30% of the installation cost from your federal taxes. Many states also offer rebates or tax credits, like New York's 25% state tax credit. By combining these incentives, you can reduce the net cost of going solar.

Once installed, the solar panels generate free electricity, allowing you to save money on your monthly utility bills. The amount saved grows over time as electricity rates increase. Typically, the system pays for itself through these savings in 5-10 years, after which you essentially get free electricity for the remaining 15-20 year lifespan of the panels. So while solar requires an upfront investment, federal/state incentives help make it affordable, and the long-term savings allow the system to quickly pay for itself.

25% NYS Solar Tax Credit

The credit is equal to 25% of your qualified solar energy system equipment expenditures and is limited to $5,000.

The solar energy system equipment credit is not refundable. However, any credit amount in excess of the tax due can be carried over for up to five years. More here

30% Federal Tax Credit

The federal residential solar energy credit is a tax credit that can be claimed on federal income taxes for a percentage of the cost of a solar PV system paid for by the taxpayer.

The installation of the system must be complete during the tax year. In August 2022, Congress passed an extension of the ITC, raising it to 30% for the installation of which was between 2022-2032. (Systems installed on or before December 31, 2019 were also eligible for a 30% tax credit

There is no maximum amount that can be claimed. More info

Learning more solar and the savings available. Contact Us.