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How it Works
New York State has low-interest loans to help make the purchase and installation of a heat pump system more affordable. When you invest in a heat pump system, you will start saving on your energy bills immediately, and for years to come. Work with us to find a loan that makes sense for you.
Air Source Heat Pumps
Air source heat pumps extract heat from the air outside and distribute it inside your home. During warmer months, this process is reversed to provide cooling by pulling heat out of your interior space.
Financing
New York State has low-interest loans to help make the purchase and installation of a heat pump system more affordable.
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On-Bill Recovery Loan: With an On-Bill Recovery Loan, your monthly payments may not exceed your estimated average monthly energy cost savings.
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Smart Energy Loan: The Smart Energy Loan is a traditional loan that you repay monthly via check or automatic payment.
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Renewable Energy Tax Credit Bridge Loan: short-term loan product which enables you to finance federal and state tax credits and the NYC Real Property Tax Abatement for eligible renewable energy system products.
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Companion Loan: The Companion Loan can be used with an On-Bill Recovery or Smart Energy Loan to access additional financing for projects that exceed the $25,000 cap on those loans.
Get Started!
Step 1: Explore Different Heat Pump Systems
Depending on your home type, you have different heat pump options. Use our simple tool to learn more about which heat pump is right for you. Our tool can also help you compare costs between the different systems.
Step 2: Find a Participating Contractor
Enter your address to find a NYS Clean Heat participating contractor in your area. You can also search for specific contractors you have worked with in the past.
Step 3: Choose the Right System
Your contractor will conduct an assessment of your home to determine what heat pump system will work best. They will also guide you through what to expect from each system, such as estimated monthly and annual savings and changes to your fuel and electric bills.
Step 4: Explore Financing & Rebates
Once you determine the system, your contractor will fill out the program application and submit all qualifying documents for your rebate. They can also guide you through the different financing options New York State offers to make the purchase even more affordable.