Larger Per Project Support from Renewable Heat New York to Spur Economic Growth Through Greater Adoption of Cleaner, More Efficient Wood Heating Technologies for Homeowners and Businesses
New York – August 11, 2015 – (RealEstateRama) — The New York State Energy Research and Development Authority (NYSERDA) today announced increased levels of support through Renewable Heat NY for high-efficiency, low-emission wood heating systems to improve the return-on-investment for homeowners and businesses.
NYSERDA is increasing the levels of State support per project as part of its ongoing strategy to evaluate and modify programs in response to market changes. The price of oil is down 25 percent since Renewable Heat NY was launched in July 2014. The new support levels are expected to further stimulate adoption of cleaner, more efficient wood heating systems. The new levels of support will be available for applications received by September 30, 2016 and will then be reassessed in light of market conditions.
Renewable Heat NY is an initiative of Governor Cuomo’s Reforming the Energy Vision (REV), which is a strategy to build a clean, resilient and affordable energy system for all New Yorkers. The support being offered through Renewable Heat NY is a bridge to developing a sustainable industry for renewable thermal technologies under the Clean Energy Fund, a strategic pillar of REV that will reshape the State’s energy efficiency, clean energy and energy innovation programs.
“Based on market factors, we are adjusting State support for Renewable Heat NY projects to make them more affordable for homeowners and businesses that want to heat with wood,” said John B. Rhodes. “This will advance Governor Cuomo’s goals to support economic development while preserving the environment and protecting public health.”
The Renewable Heat NY goals are to build a sustainable, high-efficiency, low-emissions wood heating sector in New York; help develop more clean technology manufacturing based in the State; train a skilled installer base; and sustainably harvest wood fuels from State forests.
New high-efficiency wood heating systems are automated and cleaner burning than those previously on the market. Their more efficient combustion means less fuel is required. State support through Renewable Heat NY helps offset the cost of replacing or supplementing existing stoves or systems..
Renewable Heat NY funding support for projects will increase as follows:
- Residential pellet stoves will increase by $500 per new stove.
- Small commercial and residential pellet boilers will increase to 45 percent of total project cost and advanced cordwood boilers will increase to 25 percent of total project cost.
- Large commercial pellet boilers will increase to cover 40 to 45 percent depending on the system specifications.
- In addition, Renewable Heat NY will provide funding for pollution control on eligible boilers at K-12 schools and healthcare facilities.
See www.nyserda.ny.gov/renewableheatny for program details, including qualified technologies and installers in your region.
Renewable Heat NY is funded through the Regional Greenhouse Gas Initiative (RGGI). RGGI is the first innovative market-based mechanism in the United States to cap and cost-effectively reduce the carbon dioxide emissions that cause climate change. RGGI auctions the emission credits (rather than give them away for free) and participating states invest the auction proceeds in projects that conserve energy, save consumers money and support the transition to cleaner and more efficient production of electricity.
About Reforming the Energy Vision
Under Governor Cuomo’s Reforming the Energy Vision (REV), New York State is spurring clean energy innovation and attracting new investment to build a cleaner, more resilient and affordable energy system for all New Yorkers. REV encompasses groundbreaking regulatory reform to integrate clean energy into the core of our power grid, redesigned programs and strategies to unlock private capital, and active leadership in deploying innovative energy solutions across the State’s own public facilities and operations. REV will enable a dynamic, clean energy economy operating at a scale that will stimulate opportunities for communities across the state to create jobs and drive local economic growth, while protecting our environment by reducing greenhouse gas emissions and other pollutants.
Successful initiatives already launched as part of REV include NY Sun, NY Green Bank, NY Prize, K-Solar, and a commitment to improve energy affordability for low-income communities.
To learn more about REV, please visit www.ny.gov/REV4NY.
NYSERDA, a public benefit corporation, offers objective information and analysis, innovative programs, technical expertise, and funding to help New Yorkers increase energy efficiency, save money, use renewable energy, and reduce reliance on fossil fuels. NYSERDA professionals work to protect the environment and create clean-energy jobs. NYSERDA has been developing partnerships to advance innovative energy solutions in New York State since 1975. To learn more about NYSERDA’s programs and funding opportunities, visit nyserda.ny.gov or follow us on Twitter, Facebook, YouTube, orInstagram.
- Dayle Zatlin, Assistant Director of Communications
Phone : 518-862-1090, Ext. 3359
Email : dayle.zatlin (at) nyserda.ny (dot) gov