Enacts the bucks for boilers act, which creates a program to aid in transition of housing units to electric heat pumps and other high energy efficiency upgrades.
Relates to enacting the "NYCHA HVAC repair act"; provides for the heating and cooling of properties including dwelling units owned by the New York city housing authority through the installation of geothermal or air source heat pumps and for the replacement of lighting on New York city housing authority property with LED bulbs.
Establishes the green affordable pre-electrification program to assist owners and tenants in residential properties in curing structural and building code defects which render the properties ineligible for improvements or projects relating to energy savings, green-house gas emissions reductions, climate change adaptation and resiliency project grants; establishes the energy efficiency and electrification interagency coordination group to coordinate between certain energy efficiency programs.
Electrical corporations: Industrial Decarbonization and Energy Efficiency Program.
Requires a gas and electric corporation to disclose certain information with an application for a major rate change; requires information relating to dividends paid to shareholders, capital investments, policy expenditures, commodity supply costs, and other costs not within control of the applicant; requires an inflation-indexed proposal and prohibits exceeding inflation unless the gas and electric corporation is unable to maintain the same level of operating expenses, capital expenditures, programmatic or policy expenditures without jeopardizing safety, reliability, energy affordability programs, energy efficiency programs, and cost-effective electrification upgrades.
Transitional housing; reentry programs; licensure
Authorizes certain municipalities to participate in a community-wide energy aggregation program where they can request bids, select an energy service provider, install energy efficiency measures and develop local renewable energy facilities to provide electric and/or gas supply services, including gas efficiency and renewable heating technologies to participating customers.
This bill increases the limit on the energy efficient home improvement tax credit to $4,000 (from $2,000) for the cost of an electric or natural gas heat pump, an electric or natural gas heat pump water heater, a biomass stove, or a biomass boiler.Under current law, a taxpayer may claim a nonrefundable tax credit of 30% of the cost, up to $2,000, for an electric or natural gas heat pump, an electric or natural gas heat pump water heater, a biomass stove, or a biomass boiler for a principal residence. (Under current law, taxpayers may also claim a nonrefundable tax credit of 30% of the costs, up to $1,200, for certain other eligible energy-efficient property such that some taxpayers may qualify for a maximum tax credit of $3,200.)
Enacts the "home utility weatherization jobs act"; requires each gas corporation, electric corporation, or combination gas or electric corporation to submit to the public service commission for review and approval at least one and up to ten neighborhood scale weatherization and electrification-ready projects.
Enacts the "home utility weatherization jobs act"; requires each gas corporation, electric corporation, or combination gas or electric corporation to submit to the public service commission for review and approval at least one and up to ten neighborhood scale weatherization and electrification-ready projects.