NYSERDA is now providing incentives for oil conversions that result in carbon emission reductions. Incentives are available for owners of buildings containing 5 or more apartments that convert their heating and/or domestic hot water systems away from the use of #6 fuel oil. Only buildings that are currently burning #6 fuel oil are eligible to apply. Projects can receive the lesser of up to $175,000 or 80% of the cost of the conversion. There is approximately $6.5 Million in incentives available.
Alternatives to #6 fuel oil include: natural gas, #2 fuel oil, biofuels/biodiesel blends, propane, woody biomass, district steam, and renewable energy sources such as solar thermal and geothermal systems. Buildings that switch to #4 fuel oil are not eligible to receive incentives through this program.
Incentives are based on buildings’ current fuel usage and the reduction in carbon emissions that result from the fuel conversion. That means buildings converting to the least carbon-intense fuels will receive larger incentives. In order to determine the exact incentive for each building, you will need 3 years of oil bills and you will need to use NYSERDA’s Carbon Reduction Incentive Calculator.
Here’s how the Program works:
Building owner submits a completed Application Package, which includes: an Application Form, Project Description Form, NYSERDA’s Carbon Incentive Calculator, a signed Terms and Conditions Form, a W-9 Form, and scanned or hard copies of three years of oil bills for the building.
NYSERDA conducts a site inspection to verify that the building uses #6 and that the conversion hasn’t been done already.
NYSERDA and the building owner agree upon the necessary scope of work for the project.
The building owner installs the full scope of work as agreed upon.
NYSERDA conducts a Post-Conversion site inspection to confirm that the #6 fuel oil equipment has been decommissioned, and that all other required upgrades to the system have been installed.
NYSERDA releases the incentive to the building owner.