Energy Efficiency Incentive Programs and Benefits
Discover the importance of energy efficiency incentive programs, how to access information about these programs, and the incentives offered in NYC. Learn about the funding sources, technologies covered, and more in this insightful guide.
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Presentation Transcript
Energy Incentive Programs Why we should now what are the Energy Efficiency Incentives? And how do we found information about these programs? ECON 2505 - Environmental Economics Yivan Cortorreal Jayden Cao Prof. Sean MacDonald
Energy Incentive Programs Definition An Energy Rebate Program, or Energy Credit Incentive Program, provides a cash rebate program for customers planning to install new, energy efficient information technology (IT) equipment or cooling systems.
Energy Incentive Programs In NYC New York State Energy Research and Development Authority, known as NYSERDA Con Edison, Commercial and Industrial Incentive Program (C&I). Small Business Direct Install (SBDI). This program is managed by WILLDAN Association for Energy Affordability, Inc (AEA). AEA was hired to bring the building through NYSERDA s Multifamily Performance Program
From where they are getting the money? Between its public-purpose-funded programs and programs offered directly by utilities, New York budgeted nearly $900 million in 2014 to promote gas and electric efficiency in the state. System benefits charge (SBC) Con Edison, Orange and Rockland Utilities, National Grid, New York State Electric and Gas, Central Hudson Gas and Electric, and Rochester Gas and Electric.
What Does The Incentive Program Offers? Each incentive program has its own rules. However, all of them mainly offers replacement for the following technologies: Lighting (LED lamp/bulb) Refrigeration Motor (Electronically Commutated Motor (ECM)) Heating, Ventilation and Air Conditioning (HVAC) Efficient Chillers (Colling Tower) Variable Frequency Drivers (VFD) Boilers Gas Savings New Constructions Smart Thermostats
HOW MUCH DO YOU HOW MUCH DO YOU SPEND? SPEND? This information was taken from: State Energy Data System (SEDS). http://www.eia.gov/state/seds/seds-data- complete.cfm?sid=US
Simple Math Example If a business has 100 fluorescent lamps. Each lamps consume 32 Watts. Owner of the business applied for an incentive program and he was approved. Cost of the project was $5000.00. The program paid half of the project, therefore the customer out of pocket was $2500.00. 100 lamps x 32 Watts = 3,200 Watts = 3.2kW Price for kWh =$0.18 Cents, if the business is 24/7 (24h x 30 days = 720 hours) 720h x 3.2kW = 2,304kWh x $0.18 = $414.72 Fluorescent Lamp 32W replaced for LED lamp 16W New monthly bill = $414.72 / 2 = $207.36 ROI = $207.36 x 12 Months = $2,488.32 (Almost 1 year)
Conclusion The focus of this research was to encourage people to reduce their carbon footprint from the environment. Be able to demonstrate that Energy Incentive Programs exist and are ready to be used. Show with the specific examples that the savings are real. Provide the people the most updated information about incentive programs out there.
