Geothermal Energy Installers in NYC
Developments in geothermal energy are as thrilling as when solar and wind power entered the energy market. Today, more cities in the United States are tapping into geothermal energy as a renewable power source.
Although still in its infancy, geothermal is already proving beneficial for places that have set stringent climate goals — the Big Apple is no exception. In fact, geothermal energy installers in New York State are busier than ever, and it’s a matter of time before it becomes more popular in the city.
Is geothermal energy available everywhere in New York City, or must residents wait for headways? Further, what incentives are there to offset the hefty price tag for those who can install it in their homes? Here’s everything New Yorkers should know about integrating and working with geothermal energy installers in NYC.
NYC a Major Producer of Greenhouse Gas Emissions
New York City has a severe emissions problem. With over one million buildings across all five boroughs, greenhouse gases are at an all-time high. In 2021, stationary energy from residential and commercial structures accounted for 36 million metric tons (t) of carbon dioxide (CO2) equivalent (e) of greenhouse gases.
The City of New York has committed to reducing 80% of its emissions by 2050. To help with this feat, city officials approved the Climate Mobilization Act in 2019, restricting emissions from new and old structures over 25,000 square feet. New construction of buildings this size will require solar and green rooftops.
Recently, a coalition called UpgradeNY — comprising several green organizations — is urging state legislatures to invest $115 million in 15 thermal energy networks by 2025. One of the networks would be the Empire State Plaza. The network would link several buildings to reduce wasted energy from one building and carry it over to another. Even better, city utility workers can apply their current skill sets for this project, decreasing the need to reskill in their roles extensively.
Why You Should Install Geothermal Energy
Geothermal pumps work in some areas better than others, but all accrue ample energy savings and are environmentally friendly. Residents can save 70% on heating expenses and 50% on cooling costs annually — equivalent to $1,000 per year. Geothermal is a seemingly good investment when natural gas, electricity and oil are rising.
This renewable energy source also generates only one-third of the emissions at natural gas plants and uses zero fossil fuels during extraction.
Considering NYC is seeking ways to lower city-wide emissions coupled with an unreliable electricity grid, geothermal could be the way of the future.
Is Geothermal Energy Available Everywhere in NYC?
As mentioned, geothermal energy is only conducive to certain areas. New York City’s built-up infrastructure can make it difficult for geothermal energy installers to install closed-loop systems in Manhattan and the Bronx. Additionally, most building loads in the city are above the available thermal capacity, meaning it will only work for some residences.
Although Staten Island, Queens and Brooklyn residents may have better access to geothermal heat, residents elsewhere may still be able to integrate a hybrid system. The City of New York provides a web tool for New Yorkers to pre-screen whether geothermal energy is feasible on their lots.
Current Geothermal Energy Projects in NYC
Ongoing geothermal projects in NYC have made waves in recent months. As the city rushes to jump on this renewable energy source, developers of larger-scale projects are experimenting with its energy capacity.
1515 Surf in Coney Island
The 1515 Surf development in Coney Island was set to become the largest geothermal project in NYC. So far, the site has 150 geothermal wells 500 feet deep to power a 26-story, 470,000-square-foot mixed-use building.
The Coney Island complex is one of 81 geothermal projects in NYC, including the Brooklyn Children’s Museum and the Bronx Zoo. However, most projects are limited in their use of geothermal sources.
1 Java Street in Greenpoint-Williamsburg
Another multifamily housing development in Brooklyn’s Greenpoint-Williamsburg neighborhood is 1 Java Street — a waterfront property set for completion in 2025.
The complex will be larger than 1515 Surf at 700,000 sq. ft with 834 units in five buildings. There will also be 13,000 feet worth of commercial space.
The 1 Java Steet closed-loop geothermal energy system will reduce heating and cooling emissions by 53%. Additionally, the complex will be fully-electric.
NYC Offers Tax Credits for Geothermal Systems
The high costs of installing geothermal energy may be off-putting to many New Yorkers. Because geothermal energy hasn’t become widespread yet, installation costs $20,000 to $50,000 — up to 40% more than traditional heating and cooling systems.
That doesn’t mean it’s entirely unaffordable to NYC residents with access to an extraction site. The Inflation Reduction Act (IRA) of 2022 implemented a 30% renewable tax credit through 2032 for Americans interested in transitioning to at-home clean energy.
Additionally, the State of New York proposes a 25% tax credit for geothermal energy expenses or up to $5,000 of project costs for residential taxpayers within the state budget.
Where to Find Geothermal Energy Installers in NYC
You’ll likely find geothermal energy installers in upstate New York, but that will change over time. Depending on your zip code, Dandelion Energy may service your home in NYC. In 2022, Dandelion Energy raised $70 million in investments to help homeowners adopt geothermal energy.
In October 2022, Dandelion Energy announced that it had installed its 1,000th geothermal system across New York, Connecticut and Massachusetts — a triumph for a startup that’s been around for five years.
Likewise, Public Service Enterprise Group (PSEG) Long Island maintains a list of reputable installation partners for homeowners interested in residential geothermal energy. PSEG Long Island also offers a $1,000 to $2,000 rebate on geothermal systems.
You will have to do your research to find the best geothermal energy installers in NYC to work with. Once your geothermal heat pump gets installed, numerous heating and cooling specialists can maintain and repair your system going forward.
Geothermal Installers in NYC Are Just Getting Started
Energy specialists have yet to understand geothermal energy capacity and the potential to power New York buildings. As of now, some residents can jump on this opportunity and contact local geothermal energy installers in NYC for a quote.