Important Con Edison Update
As we wrap up 2023 in December, we're excited to let you know about the latest happenings in Con Edison’s Clean Heat Program. These changes show the ongoing commitment to supporting green practices and making our future cleaner and greener.

Updated Base Incentive Rates and Limited-Time Promotion for Residential ASHP Projects

In a significant move, Con Edison is implementing three key changes in the Residential Air Source Heat Pump (ASHP) sector as follows:

  •  Increased Base Incentive Rates: There is an enhancement to the base incentive rates in Category 2b for single dwelling units in buildings with multiple dwelling units.
  • Disadvantaged Community Rates: Introduction of new incentive rates for customers located within Disadvantaged Communities ("DAC").
  •  Extended 2024 Promotion: The current Limited-Time Fall Promotion will be extended as part of the 2024 Promotion. Projects installed from December 5, 2023, to May 31, 2024, are eligible for the 2024 Promotion Rates, while applications submitted after May 31, 2024, will qualify for the Base Incentive Rates.
Residential GSHP and Multifamily Sector Updates

Additional changes for residential GSHP and Multifamily sector is as follows:

  • Residential GSHP: Projects installed between December 5, 2023, and December 31, 2024, with signed customer commitments submitted by May 31, 2024, will be eligible for the 2024 Promotion Rates. Submissions after May 31, 2024, will return to the base incentive rate.
  • Multifamily: To qualify for the 2024 Promotion Rates, multifamily projects must submit completed applications between December 5, 2023, and May 31, 2024. Installation deadlines vary by category, ensuring that projects align with specific sustainability goals.
Enhanced Incentives for Small-to-Medium Business (SMB) Sector

Small-to-Medium Business (SMB) projects can avail themselves of increased incentives by submitting completed applications between December 5, 2023, and May 31, 2024. Installation deadlines are set for October 1, 2024. Projects not meeting these deadlines will be eligible for the Base Incentive Rates.
2024 Promotion Incentives for Custom Projects in Category 4 and 4a

For custom projects falling under Category 4 and 4a, the 2024 Promotion incentives will be capped at $400,000, emphasizing Con Edison’s commitment to fostering innovation in the clean energy sector.

We encourage you to explore these opportunities and take advantage of the enhanced incentives provided by Con Edison's Clean Heat Program. Together, let's continue to make strides towards a sustainable and eco-friendly future. To schedule a free of cost consult; simply reply to this email, or email cb@stratcoproperty.com
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