Skip to Main Content
ajax loader animation

Save Thousands on a Geothermal System

Geothermal technology moves energy from the sun that is stored in the earth to provide heating, air conditioning, and hot water. With thousands in rebates available, it’s never been easier—or more affordable—to switch to the most efficient and eco-friendly technology available.

How it Works

Geothermal (also known as ground-source) heat pumps transfer heat stored in the earth into your building during the winter, and transfer it out and back into the ground during the summer to keep your space cool.

The system includes three principal components:

  1. Ground Loop
    A series of connected pipes buried in the ground circulate water to absorb heat from, or relinquish heat to, the surrounding soil, depending on whether the system is providing heat or cooling. In other words, the system uses the earth as a heat source during winter and a heat sink during summer.
  2. Heat Pump
    The mechanical system that compresses a refrigerant to efficiently move heat into or out of a building. During winter, the heat pump removes heat from the water in the ground loop and transfers it to the building. During summer, the process is reversed.
  3. Heat Distribution Subsystem
    Conventional ductwork is generally used to distribute heated or cooled air from the geothermal heat pump throughout the building.


  • Energy efficient. Heat pumps are 3x more effective at transferring heat than traditional electric and fossil fuel heating sources.
  • Dual heat-and-cooling system
  • Systems equipped with desuperheaters can also produce hot water by transferring excess heat from the pump’s compressor to the building’s hot water tank.
  • Reduced maintenance costs
  • Whisper quiet
  • Lower emissions
  • Air filtration and dehumidification
  • Easy to operate
  • No visible or exposed outdoor equipment

See How Much You Can Save on a Geothermal System


Customer Incentives

Contractor Incentive Per Project

Incentive Basis

Full-load Geothermal System



Per 10,000 Btu/h at full-load heating capacity*

Custom Incentive



Per MMBTU of annual energy savings

Get an additional $150 if you install a desuperheater to supplement your existing water heater, or $1,000 for a ground-source, heat-pump water heater.

When combined with federal tax credits, you could save tens of thousands of dollars when you install geothermal!

Site Eligibility

To be eligible, customers must own or manage a residential multifamily building with 5+ residential units, have an eligible Con Edison electric account, and pay into the EE tracker.

How to Apply

To get started, submit an interest form and one of our experts will guide you through the process find the perfect system for your multifamily building.

Submit an Interest Form

was this information helpful?

*Defined by the Air-Conditioning, Heating and Refrigeration Institute