Long Island Energy Rebates & Incentives

Energy-efficient home improvements like insulation can be expensive, but various rebate and incentive programs can significantly reduce your costs. Long Island homeowners have access to federal, state, and utility-specific programs that can save you thousands of dollars.

Federal Energy Incentives

Energy Efficient Home Electrification and Appliance Rebates

Available through DOE program

Who qualifies:

• Single-family homeowners
• Manufactured home owners
• Low-income households (additional benefits)

Insulation-related rebates:

• Electrical upgrades: Up to $2,500
• Electrical load service center/breaker box: Up to $2,500
• Electrical wiring: Up to $2,500

Application process:

• Must use approved contractors
• Point-of-sale rebates (applied at installation)
• Available through December 31, 2024

Home Electrification and Appliance Rebates (HEEHRA)

Expanded program for 2025

Point-of-sale rebates:

• Electrical panel upgrade: Up to $2,500
• Load service center/breaker box: Up to $2,500
• Electrical wiring: Up to $2,500

Home energy-efficient electrification:

• Home energy management system: Up to $1,750
• Electrical energy storage: Up to $1,750

New York State Incentives

EmPower+ Program

Administered by NYSERDA

Rebates for energy-efficient upgrades:

• Lighting: $130-$520
• Electrical upgrades: Up to $1,750
• Insulation: Varies by project
• Electrical load service center: Up to $1,750

Eligibility:

• Single-family homes
• Owner-occupied
• Must meet energy efficiency requirements

Multifamily Building Program

For apartment buildings and condos

Available incentives:

• Energy audits: Up to $2,500
• Lighting upgrades: $5-$15 per fixture
• HVAC improvements: $1,500-$3,000 per unit
• Insulation projects: Based on energy savings

Long Island Utility Programs

PSEG Long Island

Home Electrification Program

Rebates available:

• Electrical panel upgrade: Up to $2,500
• Electrical wiring: Up to $2,500
• Home energy management system: Up to $1,750
• Electrical energy storage: Up to $1,750

Requirements:

• Must use approved contractors
• Work performed by licensed electricians
• Home must be in PSEG service territory

National Grid

Energy Efficiency Programs

Available incentives:

• Insulation: $0.50-$1.00 per square foot
• Air sealing: $0.75-$1.50 per square foot
• Ventilation: Up to $500
• Comprehensive energy retrofits: Up to $8,000

Custom rebates:

• Based on calculated energy savings
• Higher incentives for low-income households

Federal Tax Incentives

Energy Credit (Form 5695)

Tax year 2024:

Credit amounts:

• Energy-efficient insulation: 30% of costs
• Air sealing and ventilation: 30% of costs
• Electrical upgrades: 30% of costs

Maximum credit: $3,200 for tax year 2024

Key points:

• Available to all taxpayers (no income limits)
• Can be carried forward if credit exceeds tax liability
• Applies to existing homes and new construction

Energy Efficient Commercial Buildings Deduction

For home offices and business use

Deduction amount: Up to $0.50 per square foot Maximum deduction: $0.50 per square foot of commercial space

Combined Incentive Opportunities

Stacking Benefits

Many programs can be combined for maximum savings:

Example project:

• Insulation installation: $6,000
• Federal tax credit (30%): $1,800
• NYSERDA rebate: $1,750
• Utility incentive: $500
• Total savings: $4,050 (67.5% of project cost)

Point-of-Sale vs. Post-Installation

Point-of-sale programs:

• Applied at time of purchase/installation
• Immediate savings
• Often require pre-approval

Post-installation programs:

• Require documentation submission
• May take weeks to receive payment
• Sometimes retroactive

Eligibility Requirements

General Requirements

• Home must be primary residence
• Work must meet program specifications
• Use of approved contractors (often required)
• Documentation and receipts required

Income-Based Programs

Low-income households:

• Higher rebate amounts
• Additional assistance programs
• May qualify for free energy audits

Application Process

Step 1: Assess Your Project

• Get a professional energy audit
• Determine eligible improvements
• Calculate potential savings

Step 2: Choose Programs

• Research available incentives
• Contact program administrators
• Get pre-approval where required

Step 3: Select Contractor

• Choose certified, approved contractors
• Ensure they handle rebate paperwork
• Verify insurance and licensing

Step 4: Complete Installation

• Keep detailed records
• Ensure proper documentation
• Schedule required inspections

Step 5: Claim Incentives

• Submit rebate applications
• File tax returns with appropriate forms
• Keep records for future reference

Common Pitfalls to Avoid

1. Missing Deadlines

Many programs have expiration dates. Check current availability before starting projects.

2. Choosing Wrong Contractors

Not all contractors are approved for rebate programs. Verify credentials before hiring.

3. Poor Documentation

Keep receipts, invoices, and documentation organized. Missing paperwork can disqualify you from rebates.

4. Not Stacking Benefits

Don't limit yourself to one program. Many incentives can be combined for maximum savings.

Maximizing Your Savings

Timing Your Project

• Take advantage of current high rebate amounts
• Plan around tax seasons for credits
• Consider seasonal energy costs

Choosing the Right Improvements

• Focus on high-impact, eligible projects
• Combine multiple improvements for better ROI
• Consider long-term energy savings

Resources and Support

Program Websites

• DOE Home Electrification: homeelectrification DOE.gov
• NYSERDA: nyserda.ny.gov
• PSEG Long Island: pseg.com
• National Grid: nationalgrid.com

Professional Help

• Certified energy auditors
• Insulation contractors familiar with rebates
• Tax professionals for tax credits

Current Program Status

Active Programs (as of October 2024)

• Home Electrification and Appliance Rebates: Active through 2024
• EmPower+: Ongoing program
• Utility Programs: Vary by utility
• Federal Tax Credits: Available through 2032

Upcoming Changes

• Expanded electrification programs in 2025
• Increased rebate amounts for low-income households
• New programs for electrical energy storage

Conclusion

Energy rebates and incentives can dramatically reduce the cost of insulation and other energy-efficient improvements. With proper planning and the right contractor, you can save thousands while making your home more comfortable and valuable.

Don't miss out on available savings. Contact Paramount Insulation to learn how we can help you navigate the rebate process and maximize your incentives.