Hurry, These Oil-to-Gas Incentives Won't Last!

Con Edison is introducing eye-popping incentives – up to $75,000 per building – to encourage co-op and condo boards to convert from oil to natural gas. But hurry, advises RAND Engineering & Architecture. This offer won’t last.

The incentives include up to $50,000 for the oil-to-gas conversion; $500 per residential unit; and up to $25,000 for an Energy Efficiency Equipment rebate. For a fact sheet, click here. 

The program has a finite budget, which will cover an estimated 40 qualifying buildings. To qualify, a building must meet the following criteria: five to 100 residential units; on No. 4 oil for the past 12 months; if on No. 2 oil, must be service adequate; must purchase and install a new gas-fired boiler with a minimum efficiency of 82 percent for gas-fired steam boilers, and a minimum of 87 percent for gas-fired hot water/condensing boilers. Qualifying buildings may also get free gas service connection. 

If your building meets these criteria, the following timetable is recommended. February: assess internal conversions costs (whether a chimney needs to be lined, costs for a new boiler, burner, etc.). Mid-February: obtain building approval, secure funding, hire an engineer or plumber. March: submit a gas service request to Con Ed, apply for incentives, and proceed with your conversion. 

The incentive program launches March 1. Rebate incentive applications will be available here.