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New York announced $10m heat pump fund

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The US state of New York has backed a $10bn investment aimed at accelerating the adoption of energy efficient heat pumps.

The New York State Energy Research and Development Authority (NYSERDA) says the technology will help reduce energy costs and decrease greenhouse gas emissions in homes and businesses across the region.
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The heat pumps can meet both heating and cooling needs without producing much carbon dioxide, supporting Governor Andrew M. Cuomo’s energy goal to reduce greenhouse gas emissions by 40% by 2030.

In the winter, air source heat pumps collect heat from outside and distribute it inside – they require electricity to run but can deliver up to three times more energy than they use.

In the summer, operation is reversed to air condition a building by moving heat from indoors to outdoors.

Participating installers are eligible to receive up to $500 (£388) per  system put into place, with up to $500,000 (£388,000) per firm available.

These companies will then use these incentives to grow the ASHP portion of their business.

Alicia Barton, President and CEO of NYSERDA, said: “This funding strongly supports Governor Cuomo’s nation-leading clean energy strategy and will help make energy more affordable for New Yorkers.”

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