Now Available: More Incentives and Assistance for Reducing Carbon Emissions

Several new incentives to reduce carbon and greenhouse gas emissions are now available for building owners and managers. These incentives and assistance are available at the federal, state and local level. There are currently incentives being offered from the Inflation Reduction Act of 2022, New York State Research and Development Authority (NYSERDA) and from Con Edison and other utility providers.

Federal Incentives

At the federal level, an Advanced Energy Project Tax Credit is available through the Inflation Reduction Act and is offered to industrial or manufacturing facilities. A partnership between the Department of the Treasury, Internal Revenue Service and Department of Energy has designated up to $4 billion of tax credits for industrial facilities that expand clean energy manufacturing, recycling, refining critical materials and reducing greenhouse gas emissions. The deadline to apply is July 31, 2023. Read more about this program in our recent blog here.

State Incentives

At the state level, NYSERDA’s Carbon Neutral Community Economic Development Program has made $10 million available to disadvantaged communities in New York State. This program supports the construction of high-performance buildings that can keep their greenhouse gas emissions as close to zero as possible. Applicants may apply for funding for multiple projects. The application deadline is July 28, 2023.

Local Incentives

An example of local level incentives is Con Edison’s Commercial and Industrial Energy Efficiency Program. This program is divided in two between the Equipment Rebate Program and the Custom Program.

The Equipment Rebate Program provides rebates for installing energy-efficient equipment such as:

• Lighting
• Motors
• Variable frequency drives (VFDs)
• Compressed air system improvements
• Industrial process improvements
• HVAC systems
• Heating (furnace, boilers and other gas equipment)

The Custom Program provides custom incentives for cost-effective projects and energy efficient technology that is not included in the Equipment Rebate Program. You must be a gas and/or electric Con Edison customer to qualify. Applications are due by September 15, 2023.

There are other incentives and assistance available at the federal and state levels, as well as from many local energy providers. These may depend on your location and specific energy usage.

Walden has experience working on state and municipal projects, as well as with industrial and manufacturing facilities. If you are interested in any of these incentives, contact Walden today at 516-588-6859 and we can assist with applications, design and implementation of your projects. To learn more about some of Walden’s renewable energy work, click here.