Con Edison President Says Company Wants to Work With Geothermal Industry
Con Edison President Tim Cawley told representatives of the geothermal heat pump industry that the company wants to work with them to increase use of the technology for residential heating in Westchester County.
Cawley, speaking in Schenectady at the annual conference of the New York Geothermal Energy Organization (NY-GEO), said Con Edison has new incentive programs to reduce the upfront costs of heat pumps, particularly in Westchester County.
He said Con Edison and the geothermal industry can collaborate to create a future of cleaner heating solutions.
“Let’s work together to learn how we can reduce the costs of systems and help the industry get to scale,” he said. “We want your input into the most effective ways to reach out and communicate the benefits of heat pumps to customers.
“The benefits – cleaner air and water and a more vibrant economy – will make it all worthwhile,” he said.
NY-GEO was formed in 2014 to represent geothermal heat pump installers, manufacturers and distributors.
A geothermal heat pump – also called a ground-source heat pump – uses moderate year-round ground temperatures to warm air or water in the winter and cool it in the summer to provide a comfortable indoor temperature in buildings. The technology works because underground temperatures are constant, regardless of the ambient air temperature.
Con Edison is providing incentives for ground-source and air-source heat pumps under its Smart Solutions for Gas program. That program seeks to encourage customers to take advantage of high-efficiency electric heating technology and reduce their need for the use of fossil fuels. Combined with the state’s renewable energy goals for electricity, these measures will lead to a cleaner energy future for New Yorkers.
The company has declared a moratorium on new gas connections in a large part of Westchester County due to the constraint on interstate natural gas pipelines, and these programs provide alternatives for customers.
The Smart Solutions program also includes increased incentives for gas energy efficiency programs and home weatherization. On the supply side, Con Edison is looking to construct compressed natural gas, liquefied natural gas and biogas facilities.
The incentives from Con Edison and the New York State Energy Research and Development Authority offset about 30 percent of a geothermal system for a Westchester customer. After incentives and the tax credit, customers can earn a return on their investment in about five to seven years.
While offering the incentives, the company continues to pursue interstate transmission pipeline projects that can get state, local and federal approvals.
Con Edison is a subsidiary of Consolidated Edison, Inc. [NYSE: ED], one of the nation’s largest investor-owned energy companies, with approximately $12 billion in annual revenues and $54 billion in assets. The utility delivers electricity, natural gas and steam to 3.5 million customers in New York City and Westchester County, N.Y. For financial, operations and customer service information, visit conEd.com.
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