Tax-Credits & Incentives

States - New York

Updated: October 2015

New York state capitol In August 2014 New York launched a broad and innovative incentive program with programs at the residential, institutional and commercial level.
  1. Pellet stoves:
    • 1,500 for the purchase of a new pellet stove with recycling of an existing wood or pellet stove, in a primary residence
    • Households with income less than 80% of county median may qualify for an incentive of $2,000 for the purchase of a new pellet stove in a primary residence and an additional $500 if an existing wood or pellet stove is recycled.

    For information on the pellet incentive.

  2. Residential boilers:
    Incentives are available for advanced cordwood boiler heating systems with full thermal storage for installations in the residential and small commercial sectors. The installation must include full thermal storage and must use eligible boilers.

    Incentives up to $8,000 are available. This amount is based on 20% of installed costs up to $4,000 per unit with an additional $4,000 for documented removal and destruction of a previously installed and functioning Outdoor or Indoor Wood Boiler.

    For information on the boiler incentive.

  3. Property tax exemption. The Energy Conservation Improvements Property Tax Incentive allows 100% of assessed added value to a property from the installation of an EPA-certified biomass fueled stove to be exempt from state property taxes. Property tax exemption info.

  4. Sales tax exemption on fuel.The state also provides a minor sales tax incentive. Purchase of pellets for residential use are exempt from state sales tax.

  5. Smart Energy Loans. NY has a loan program at 3.49% interest rate to finance the up-front costs of the purchase and installation of a wood or pellet stove. Biomass boilers with thermal storage are not yet listed as of Aug. 8 as an eligible improvement but we expect they will be soon. For more info.
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