Rebates and Financing for Home Improvements

At Halco, we offer a variety of easy-to-use financing options for homeowners, while also helping them save on their home comfort and energy efficiency upgrades through available rebates and incentives.

During our in-house visit, your Home Energy Advisor will help you find the rebate and financing options that work for YOU! Regardless of your credit, we have programs available to fit every financial situation. Here's a look into the many options we have for our valued customers.

2023 Energy Tax Credits:

In addition to incentive programs and financing options, you may qualify for federal and/or New York State tax credits.

Federal Tax Credits

• Geothermal Federal Tax Credit: The residential geothermal tax credit is 30%.
• The Energy Efficiency Home Improvement Tax Credit is equal to 30% of your heat pump installation costs, up to $2,000.
• The federal solar tax credit is equal to 30% of your solar installation costs.

State Tax Credits

• Geothermal State Tax Credit: NY homeowners are eligible for a 25% State tax credit up to $5,000.

State Rebate Programs

New York State's Clean Heat is administered by the homeowner utility (NYSEG, RG&E, National Grid) for the installation of eligible heat pump technology.

• Incentive amounts will vary depending on the installed heat pump's total heating capacity.
• As a qualified contractor, Halco will help you determine your total savings based on the system that's best for your home.

Examples of Real Savings from Clean Heat

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System: 4-ton single zone ducted Geothermal horizontal ground loop, Geostar Sycamore highest efficient system
Total: $52,000
Clean heat: ($6,525)
Subtotal (customer responsibility): $45,475
Federal tax credit 30% no cap: ($13,643)
State tax credit 25% $5,000 cap: ($5,000)
Net total: $ 26,833

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System: 4 ton single zone ducted air source
Total: $21,000
Clean heat: ($7,000)
Subtotal (customer responsibility):$14,000
Federal tax credit 30% no cap: $2,000
Net total: $ 12,000

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COMING SOON: The HOMES program (Homeowner Managed Energy Savings - rebate offer date TBD) The details and funds of this program will be left to the state of New York to disseminate and will require an energy assessment and modeling for projected energy savings. Rebates include:

• $4,000 for home energy efficiency retrofits with modeled energy savings of 35% or more ($2,000 in rebates for 20-34% in modeled energy savings)
  *Can include heat pump installation, insulation, air sealing, efficient HVAC upgrades, and more. Income-qualified households can qualify for up to $8,000 in rebates.

COMING SOON: The High Efficiency Electric Home Rebates program is also yet to be implemented, and rebate offer date TBD, but it will include rebates on the following upgrades:

• Electric wiring: $2,500
• Electrical panel upgrades: $4,000
• Heat pump water heater: $1,750
• Heat pump HVAC or mini split system: $8,000
• Insulation, air sealing, and ventilation: $1,600
• And more!

Comfort Home Program offers incentives from $1,000 to $4,000 for air sealing and insulation packages, depending on the type of improvements being made. Comfort Home packages may include:

• Sealing air leaks
• Insulation upgrades for attics, floors, walls, and rim joists
*The Comfort Homes Program is designed for households over 80% of the area median income.

Moderate Heat Pump Incentive (Lottery)

• Customers can get either and extra $1,000 or $3,000 towards an air source heat pump through AHP.
• Customers can apply here.
• Customers will receive a confirmation email with their award amount that must be forwarded to our office.

NYSERDA Affordable Solar Grant

• Available to low-to-moderate income households looking to electrify their homes by installing solar.
• The customer must apply directly; we are unable to apply on their behalf.

No-Cost Home Energy Assessment: All rate-payers of public utility companies in NYS pay an SBC fee (Service Benefits Charge) each month on their utility bill. This SBC money is what funds the no-cost energy assessment.

EmPower+: offers assistance to low- and moderate-income households, enabling them to save energy and reduce expenses.

• Households can receive a no-cost home energy assessment to pinpoint where the home is using, losing, and wasting energy and money.
• Low-income, single-family households are eligible for no-cost energy efficiency upgrades capped at $10,000 per project.
• Moderate-income single-family households are eligible for a discount of up to 50% of the cost of eligible work capped at $5,000 per project.
• Eligible households can receive incentives toward the following energy efficiency improvements:
• Air-sealing & insulation
• Health & safety items
• Mobile-home underbelly insulation
• For homes that have had insulation and air sealing completed:
• Cold climate air source heat pump
• Heat pump water heater
• High-efficiency gas heating upgrades (Household should be evaluated for heat pumps first)

Click Here for more information about EmPower+ eligibility guidelines.

Financing:

Interest rates as low as 3.49%! We will work with you to ensure your payment does not exceed what you are expected to save on energy costs.

• Green Jobs-Green NY: Loans with interest rates of 3.49% to 7.49% based on income. Direct payment plans up to $50,000 with a loan term of 5, 10, or 15 years.

Loans are not incentives or rebates and must be paid back.

Contact Halco for more information about our rebates and financing!

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