Optimizing energy consumption for heating and cooling homes in the Southern Tier of New York and Northeastern Pennsylvania presents a win-win situation for homeowners, utility companies, and the environment. Because of this, a variety of financing options and incentives are at your disposal!
Sealed offers exclusive specific rebates directly from NYSEG for residential insulation projects. This performance-based insulation and air sealing instant rebate up to $2000 is only accessible through them. Insulation Man is the only contractor in the entire Southern Tier of NY who can help you take advantage of this program. Insulation Man teamed up with Sealed in 2017 because we share the same goals, making all homes in NY more comfortable, healthier, and energy efficient.
Break up your insulation work over a few years to maximize your tax credit:
- This Year: Air Seal your Attic and receive a tax credit worth up to $1,200
- Next Year: Insulate your Crawl Space and receive a tax credit worth up to $1,200
- In Two Years: Insulate your Exterior Walls and receive a tax credit worth up to $1,200
Combine Tax Credit Savings with State Incentives to Upgrade Your Home and Ditch Fossil Fuels
New York State Helps You Get the Most Out of the IRA
The Inflation Reduction Act (IRA) does not replace New York State clean energy programs—it enhances them. New Yorkers can combine IRA savings with New York State incentives and programs, helping homeowners cut energy use, save more money, and contribute to a cleaner, healthier planet.
| Eligible Clean Energy Technology | Federal IRA Tax Credit 2023-2032 | New York State Incentives and Tax Credits |
| Cold Climate Air Source Heat Pumps | 30% of cost, up to $2,000 per year | Incentives: Partial home solutions $100-$400 on average Whole home solutions $2,000-$3,000 on average |
| Efficient Air Conditioners | 30% of cost, up to $600* | |
| Efficient Heating Equipment | 30% of cost, up to $600* | |
| Insulation Materials* | 30% of cost | Incentives: $1,000-$4,000 |
| Home Energy Assessments | 30% of cost, up to $150* | Free for all New Yorkers |
Later in 2025
Federal Rebate Programs for Energy Efficiency Upgrades
While tax breaks help incentivize efficiency upgrades, the high up-front costs of these projects still put them out of reach for many families. Two new rebate programs established in 2022 aim to cut sticker prices for weatherization renovations, with a larger portion of the benefits going to low- to moderate-income families.
The rebates are expected to be available in Summer of 2025 and run until December 31, 2032. Insulation Man will provide new information on this page whenever we receive it.
The Inflation Reduction Acts in New York State include two provisions for rebates for home energy efficiency and electrification projects:
Together, these provisions are referred to as the Home Energy Rebates.
What these rebate programs will cover:
- Home Efficiency Rebate or (HER) Program gets you cash back by shrinking your overall home energy use through weatherization renovations, like adding insulation.
- The amount you can get back depends on how much energy you’ve saved, how you prove those energy savings and your household income. Save more energy, get more cash.
- The High-Efficiency Electric Home Rebate Act (HEEHRA) Home Electrification and Appliances Rebates or (HEAR) Program offers low- to medium-income families as much as $14,000 per year in point-of-sale discounts for electrification projects including:
- Up to $8,000 for a heat pump for space heating and cooling
- $1,600 for an insulation project
- $840 for an electric stove
Who Qualifies:
- For the HOMES HER Rebate Program, everyone qualifies; however, low- to medium-income households can earn more cash back.
- For HEEHRA HEAR Rebate Program only low- to medium-income families qualify. Medium income is defined as a household making up to 150 percent of its area’s median income. Low income is defined as making less than 80 percent of its area’s median income.
NYSERDA Programs
There are several programs under the New York State Energy Research and Development Authority (NYSERDA) that promote energy efficiency. These programs are tiered and based on income eligibility. No matter what your household income is, there is a program that can assist in helping your home become more reliable and affordable to operate.
Learn More About NYSERDA EmPower+
Financing Options
Green Job Green New York (GJGNY) Loan Fund
Smart Energy Loan
The Smart Energy Loan (SEL) is a traditional loan that you repay monthly via check. The interest rate is 3.99% or automatic payment (ACH) interest rate is 3.49%.
Upgrades and services covered:
- Purchase and installation of solar photovoltaic systems, ground source heat pumps, air source heat pumps, and energy efficiency improvements.
Eligibility:
- You must own the home or be an authorized representative of the property.
Loan terms:
- Unsecured
- Interest rates are subject to change. Check for available residential interest rates.
- Loan amounts from $1,500 – $25,000 with loan terms of 5, 10, or 15 years
- If you sell or transfer the property, you remain responsible for the balance of the loan
On-Bill Recovery Loan
The On-Bill Recovery (OBR) Loan, your loan payments are paid as part of your utility bill. Estimated average monthly energy cost savings must be greater than monthly loan payments to use the OBR loan.
Upgrades and services covered:
- Purchase and installation of solar photovoltaic systems, ground source heat pumps, air source heat pumps, and energy efficiency improvements.
Eligibility:
- You must own the home and be named on the utility account
- The home must be served by a participating utility, including: Central Hudson Gas & Electric, Con Edison, PSEG-Long Island, NYSEG, National Grid (Upstate NY customers only), Orange & Rockland, and Rochester Gas & Electric
Loan Approval Criteria
Looking to make energy improvements to your home? The National Energy Improvement Fund makes financing for energy-efficient home improvements easy and affordable.
Home improvements that might be preventing you from getting insulation work done are eligible for funding through NEIF such as:
- Asbestos removal
- Repair or Replacement of Roof
- Knob & Tube
- Windows & Doors
All can be financed through NEIF. Please call 607-775-3035 to let us help you see what we can do for you to get your house insulated.
The National Energy Improvement Fund provides financing for energy efficient home improvements. NEIF focuses on increasing the affordability of energy efficient enhancements through transparent, simple interest, fixed-rate, low payment unsecured installment loans with no fees to the borrower and no prepayment penalties!
- Finance 100% of your energy improvement
- True fixed rate, fixed monthly payments
- Terms up to 10 years
- No adjustable rate, “teasers”, or surprises
- No home equity required
- No points, fees, or closing costs
- No penalty for prepayment or paying extra each month
- Instant credit decision, easy paperless process
- Fully supported by NEIF’s Energy lending specialists
- Work must be performed by NEIF approved contractors
