|Navigating the Electrification Process
Once a property meets the screening criteria, the consulting engineer submits a proposed electrification scope of work to a Community Development Financial Institution (CDFI) for review and approval. This scope of work includes a range of measures, such as conducting energy audits, property condition assessments, and eligible improvements like installing high-efficiency all-electric cold climate heat pumps or geothermal heat pumps.
Eligible Use of Funds: A Closer Look
The eligible use of funds covers a comprehensive array of building upgrades, emphasizing electrification of heating, cooling, and water heating systems, alongside additional building envelope improvements. Approved retrofit work scope items include electrical service upgrades, HVAC systems replacement with high-efficiency heat pumps, domestic hot water replacement with high-efficiency heat pumps, and additional energy conservation measures to optimize new system performance.
A Vision for Sustainability: Moving Forward
The CFHF initiative is not just a financial injection into building upgrades; it's a visionary step toward sustainable living. By encouraging small building owners to embrace electrification retrofits, CPC is empowering communities to play an active role in reducing their carbon footprint. At STRATCO, we are committed to helping developers of all sizes reduce their carbon footprint. To find out what rebates and incentives you may be entitled to, contact the below or reply to this email to schedule a free of cost consultation with a member of our dedicated and experienced team.
STRATCO is a third-party specialist that navigates New York State incentive programs. STRATCO specializes in creating unique business plans for its clients to solve underserved needs in the marketplace. STRATCO serves the entire value chain with in-depth services to obtain the government incentives available for projects. To learn more about how the new incentives may impact on your development, please contact the below for a free of charge consultation.
929 353 2768