Save Big on Your New Heating System
Beginning this year, January 1, 2023, homeowners who have qualifying Bioheat® fuel systems installed will be eligible for a $600 tax credit under the recently enacted Inflation Reduction Act (IRA). Eligible systems include the installation of any oil-fired furnace or hot water boiler that earns Energy Star® certification requirements for 2021.
For local customers, NYSEC offers Upgrade & Save Rebates of $500 for a new Bioheat® fueled boiler or furnace and $300 for an aboveground fuel storage tank. That’s another $800 in savings. There are still more savings to come with new heating equipment! Homeowners in our area use about 20% less fuel after upgrading, which saves about 159 gallons of Bioheat® fuel a year and puts approximately $867 back in their pockets. You may also be eligible for the New York Clean Heating Fuel Credit, which offers a tax credit for using Bioheat® fuel at blends between 6% and 20% biodiesel.
Having Bioheat® fuel directly mentioned in the IRA proves that Bioheat® is essential in our work toward net-zero carbon emissions. We work hard at NYSEC to make sure the loyal customers of New York earn the best discounts they can on home heating system upgrades and clean, efficient home heating Bioheat® fuel. If you are interested in taking advantage of the numerous tax incentives, both state and federal, or would like more information, NYSEC is here to help. Contact us today to speak with a trained professional.