Con Edison recently announced changes to their Commercial and Industrial Energy Efficiency Program – an incentive program for properties averaging peak demand over 100 kilowatts – that will make investment in high-efficiency commercial HVAC systems more profitable than ever.
The new incentives are intended to encourage commercial building owners and tenants to invest in more energy efficient HVAC systems, regardless of whether their current system is near the end of its lifespan or not.
The Details of Con Edison’s New HVAC Energy Incentives and Your High-Efficiency Commercial HVAC
One new incentive, the Prescriptive Rebate Program, offers cash incentives for investing in new standard-efficiency HVAC equipment. The second one is likely to be far more appealing, however. Con Edison is offering $0.16 per kilowatt hour saved, plus an additional $600 for every kilowatt of energy reduction, for high-efficiency HVAC system upgrades.
High-efficiency HVAC upgrades will also be eligible for Early Replacement and Extended Life offerings, which offer incentives for replacing HVAC equipment before the end of its effective lifespan, as well as for equipment 125% or more past its effective lifespan.
Benefits of High-Efficiency HVAC Equipment
These incentives from Con Edison are likely to encourage commercial building owners and tenants to invest more in HVAC energy efficiency. While the incentives are great, there are plenty of other benefits of switching to new high-efficiency commercial HVAC equipment.
When making the switch to high-efficiency HVAC systems, total energy consumption can be reduced by as much as 50%, saving nearly 15% on utility bills. High-efficiency systems perform better, contribute to better indoor air quality, reduce overall carbon footprints and never stop saving money over their effective lifespan.
There are many benefits that come along with using a high-efficiency commercial HVAC system. Essentially, they can save building owners thousands of dollars ever month, in addition to promotion social responsibility.
When the benefits of these systems are combined with Con Edison’s new energy efficiency incentives, it’s hard to deny the potential profitability of switching to a high-efficiency commercial HVAC system.