Financing
NY Incentives/Financing Resources
30-50% federal tax credits, 179D tax incentives, and NYS Clean Heat rebates are all very stable incentives
Upfront Costs
If a customer chooses to finance and own the system themselves, the upfront costs of the additional geo-energy asset may be about $10k/ton of HVAC load. Often times, this upfront cost only holds a small net cost premium due to incentives and efficiency-related rebates, and the payback may be 2-5 years, or sometimes even faster.
Ongoing Costs
If a customer chooses to finance and own the system themselves, there are no ongoing costs of a geo system separate from the now-lower costs of HVAC
If a customer chooses to have the system financed by a 3rd-party owner, then there may be no upfront costs, but the ongoing costs will be a 'geo asset lease' that is lower than the cost of alternative system ownership.
Payback Period
2-5 years