Your guide to Con Edison, NYSERDA, and citywide energy incentive programs
If you’re planning a renovation in New York City, it’s the perfect time to go green — and get paid to do it. From high-efficiency appliances to insulation and smart thermostats, NYC offers a range of rebates, tax credits, and energy programs that can save you thousands of dollars.
Here’s a simple guide to help homeowners, co-op owners, and landlords take advantage of these opportunities.
🔌 1. Con Edison Energy Efficiency Rebates
Con Edison offers a wide range of rebates for both homeowners and multi-family building owners.
✅ Residential Rebates Include:
- Smart Thermostats: Up to $85 back for installing eligible devices (e.g., Nest, Ecobee)
- AC Tune-Ups and High-Efficiency Central Air Units
- Lighting and Power Strips: Instant discounts on LED bulbs, smart power strips
- Gas Heating & Water Heating: Rebates for high-efficiency boilers, furnaces, and tankless water heaters
📍 Eligibility Tip: You must be a ConEd customer and install qualifying equipment through approved contractors.
🏠 2. NYSERDA (New York State Energy Research and Development Authority)
NYSERDA administers statewide energy efficiency programs that are also valid in NYC. Great for owners of 1–4 family homes, co-ops, condos, and even renters.
🌿 Homeowners Can Access:
- Home Energy Assessment (Free or discounted based on income)
- Assisted Home Performance Program: Up to $5,000 in matching funds for improvements like insulation, air sealing, and heating system upgrades
- EmPower+ New York Program: Free weatherization services for low-to-moderate-income households
🔗 NYSERDA Residential Programs
📍 Eligibility Tip: Most NYSERDA incentives require work to be done by a certified BPI contractor and may require a pre-renovation energy audit.
🏢 3. NYC Green Building & Retrofit Accelerator
If you own or manage a multifamily or commercial building, the NYC Retrofit Accelerator offers:
- Free expert guidance on energy upgrades
- Help applying for ConEd + NYSERDA incentives
- Compliance help with NYC’s Local Law 97 (carbon caps for large buildings)
📍 Tip: Ideal for small landlords and co-op boards managing older buildings.
💰 4. Federal Tax Credits for Energy Efficiency (2025)
Thanks to the Inflation Reduction Act, homeowners nationwide — including NYC — can now claim:
- 30% tax credit (up to $1,200/year) for:
- Insulation
- Windows & doors
- Heat pumps & energy audits
- Up to $2,000/year for heat pump systems and biomass stoves
📍 Filing Tip: Use IRS Form 5695 for Residential Energy Credits with your tax return.
🧠 How to Qualify for Rebates and Credits
- Check your eligibility: Some programs are income-based; others require specific building types.
- Use approved contractors: Always work with NYSERDA/ConEd-approved installers.
- Schedule a home energy audit: Often required to access full benefits.
- Document everything: Keep receipts, contractor invoices, and product manuals.
- Apply quickly: Some rebates are limited and operate on a first-come basis.
🔄 Can You Combine Rebates?
Yes! Many NYC homeowners qualify for multiple overlapping incentives:
✅ Combine ConEd + NYSERDA + Federal Tax Credits
✅ Renters can get thermostat and lighting rebates
✅ Low-income families can qualify for EmPower+ and weatherization help
📦 Sample Rebate Stack (for a 2-Bedroom Brooklyn Apartment)
| Upgrade | Incentive Source | Estimated Savings |
|---|---|---|
| Smart Thermostat | Con Edison | $85 rebate |
| Wall Insulation | NYSERDA | Up to $2,000 match |
| Heat Pump Installation | Federal Tax Credit | $2,000+ |
| LED Lighting + Smart Power | Con Edison Instant | $50–$100 |
💸 Total: Up to $4,000+ in rebates and tax credits
📝 Final Tips
- ✅ Always review the terms before buying or installing equipment
- ✅ Ask your contractor if they’re approved for rebate programs
- ✅ File early — and keep copies of all documents for tax season
- ✅ Don’t miss out on free energy assessments (especially from NYSERDA)
Renovating in NYC? Go green — and get money back for doing it. Visit RenovateNY.com for more smart homeowner guides.