Owning or managing a multifamily building with five rental units or more qualifies for a wide range of subsidies from ConEdison to lower the property’s carbon footprint. By taking part in ConEd’s 2024 energy refund program, you minimize electricity consumption, reduce your bills, and make major improvements to the systems within your apartment. Continue the article to learn more about ConEd’s multifamily dwelling rebates and how Incentive Rebate360 can help with the rebate process!

Understanding ConEd Energy Rebates

ConEd has developed numerous programs to help multifamily properties cut down on energy consumption while gaining financial savings. Some programs are even geared towards assisting affordable and market-rate housing to upgrade their buildings. This allows residents of certain neighborhoods in New York to have their HVAC, lighting, and other needs upgraded.

Affordable Housing Buildings

The New York State Affordable Multifamily Energy Efficiency Program (AMEEP) provides two options for affordable housing buildings. To qualify for these pathways, ConEd uses a point system based on the projects being done:

Comprehensive Pathway: This pathway is designed for more extensive projects for whole building retrofits. These projects include central air unit replacements, boilers and furnaces, lighting controls, and more.

Non-Comprehensive Pathway: This pathway is for smaller upgrades or any client that does not meet the requirements for a comprehensive pathway. These upgrades are typically done in small buildings or within specific units.

Market Rate Buildings

The Multifamily Energy Efficiency Program (MFEEP) is used to award incentives for pre-defined and customized measures for non-low-income residential units. These incentives are based on the installed equipment as well as how much energy will be saved through the installation. Construction of market-rate housing falls can also qualify for the program.

Electrifying Heating and Cooling

ConEd also provides financial incentives for upgrading buildings with cleaner heat pump technology through the Clean Heat Program. This initiative seeks to improve comfort and energy-efficiency by replacing old heating and cooling systems with modern heat pump technology.

Neighborhood Program

All multifamily buildings located within eligible neighborhoods in Brooklyn and Queens receive extra rewards under the Neighborhood Program. This comprises cost-free LED lighting retrofits, plus HVAC rebates.

Simplifying the Application Process

Navigating the process of applying for rebates may be difficult and time-consuming, but Incentive Rebate360 has got you covered. We design our full-service rebate management solutions to help you get the most out of each step while spending less effort and time. ConEd rebates require the following steps:

• Project and Equipment Verification
• Preparing Applications
• Pre-Inspections and Engineering Reviews
• Incentive Offer and Installation
• Post-Inspection and Final Review
• Incentive Payment
• Additional Assessments

 

With the help of Incentive Rebate360’s professionals, you can easily walk through the complexities associated with ConEd’s rebate programs. We walk you through every step, from the application process to incentive disbursement.

ConEdison’s multifamily rebates allow the owners of market-rate and affordable houses to upgrade their properties in a cost-effective way. This leads the way for happier tenants, energy saving, and lower utility bills. To see if you qualify for these rebates, contact Incentive Rebate360! Contact us today by calling 480-653-8180, emailing [email protected], or schedule a call that fits your needs by clicking the button below!