Estimated Savings for a Typical New York Home
2,000 sq ft home switching from electric-resistance heating
Installed Cost
$17,000
State Rebate
-$3,000
Net Cost
$14,000
Current Heating Cost/yr
$4,446
Heat Pump Cost/yr
$1,778
Annual Savings
$2,667
Payback Period
5.2 yrs
15-Year Savings
$36,796
CO₂ Avoided/yr
10,400 lbs
New York Heat Pump Rebates
✕
Federal 25C Tax Credit (Expired Dec 31, 2025)
The federal Energy Efficient Home Improvement Credit (up to $2,000 for heat pumps) ended December 31, 2025. Heat pumps installed in 2026 do not qualify for it.
Up to $3,000
New York State/Utility Rebate
New York's Clean Heat program (NYSERDA) offers heat-pump rebates typically $3,000 or more.
Up to $8,000
HEEHRA Federal Rebate (Income-Qualified)
Households at or below 150% of area median income can receive up to $8,000 toward a heat pump through the federal HEEHRA program, administered by New York. View full rebate detail →
Heat Pump Costs by City in New York
| City | Annual Savings | Payback (yrs) | Population ↓ | Utility |
|---|---|---|---|---|
| New York City | $2,703 | 5.2 | 8,336,817 | Con Edison |
| Buffalo | $3,217 | 4.4 | 278,349 | National Fuel Gas |
| Rochester | $3,055 | 4.6 | 211,328 | Rochester Gas & Electric |
| Yonkers | $2,808 | 5 | 200,370 | Con Edison |
| Syracuse | $2,699 | 5.2 | 148,620 | National Grid NY |
| Albany | $3,194 | 4.4 | 97,856 | National Grid NY |
| New Rochelle | $2,823 | 5 | 79,557 | Con Edison |
| Mount Vernon | $2,384 | 5.9 | 73,893 | Con Edison |
| Schenectady | $3,019 | 4.6 | 66,135 | National Grid NY |
| Utica | $2,961 | 4.7 | 59,750 | National Grid NY |
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Quick Facts: New York
- 🌡️ Climate: Cold (5,800 HDD)
- ⚡ Avg electricity: $0.218/kWh
- 🔥 Natural gas: $2.00/therm
- 🏭 Top utility: Con Edison