NYSERDA Offers Cash Incentives for Wind Power Conversion

New York State is so motivated to get to 25% of all power used in the state to originate from natural, renewable sources that it is offering monetary incentives to help citizens join in the effort. In the case of encouraging people to install wind energy systems into their homes or businesses there are several factors which determine the amount of the cash incentive, including the size of the wind generation system; the height of the tower; and the type of energy customer. Farms, municipal and county governments and charitable organizations or schools are rewarded with incentives at a higher level than the basic level of incentive.

Excellent conditions for loans are available also from the New York $martSM Loan Fund.  For up to 10 years the interest rates on loans to finance energy efficiency projects and renewable technologies can be reduced by 4%.  Some of the conditions for receiving the cash incentives are as follows:

1.    Payments are made only to eligible installers and not to the owner of the wind system.
2.    Eligible installers have to be approved in advance in order to be part of this program.
3.    The complete cash incentive must be passed on to the owner of the wind system.
4.    The cash incentives are paid in two installments. The first installment of 65% of the total is paid after the delivery of the equipment and all the necessary permits and certificates and approvals have been acquired. The rest of the incentive is paid when the wind system has been connected to the grid and approved by the utility.