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In light of PSEG's recent announcement regarding incentives for 2024, we will explore the details of these changes that will affect rebates. While there may be a reduction in incentive amounts across various categories, it signifies Long Island's commitment to achieving its climate goals.
The main changes:
- Measure rebates for performance lighting have been decreased by $0.08/ per kWh.
- The fast-track lighting has been adjusted to $5,000.
- Geothermal rebates are now at a $50,000 cap.
- All kitchen equipment has been removed from standard rebates in line with NYS appliance standards.
- The recent update in Multi Family Rebate Applications underscores the removal of appliance and in-unit lighting rebates, coupled with a $100,000 cap per building for Heat Pumps/VRFs in new constructions and a $200,000 cap for existing buildings.
- In-unit ENERGY STAR Heat Pump Water Heaters are now eligible for a rebate of $1,000 per unit.
- Commercial Heat Pumps are subject to a revised structure, featuring a $50/MMBTU rate and a $100,000 cap per building. Meanwhile, decommissioning Fossil Fuel incentives will adhere to a $120/MMBTU rate and a $200,000 cap per building.
- Building weatherization with Heat Pump Installation for commercial buildings will see a rebate of $100/MMBTU.
- Cost study Caps will see a reduction of 40%, and an updated Tier I and Tier II rebate cap will be $20,000.
- Technical assistance for LEED will see a 20% reduction.
- Energy Model Cost cap will see a 40% reduction, whilst a Whole Building Cost Cap will see a 20% reduction.
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