A state-backed thermostat incentive in New York is advancing, offering homeowners a way to earn bill credits in exchange for letting utilities briefly adjust home temperatures during periods of heavy electricity use.
As News10NBC reported, eligible customers in the Excelsior Power program could collect $25 a month for a year, up to $300 total, by installing a Wi-Fi-enabled smart thermostat.
Here's what to know
The state's Public Service Commission has approved the basic structure of Excelsior Power, with $30 million allocated for customer bill credits and another $3 million set aside for outreach, according to News10NBC. The outlet reported that, through programs like this one, utilities can make small temperature changes during periods when the grid is under stress, typically between 1 and 4 degrees.
Matt Brown of the New York State Department of Public Service told News10NBC that customers can override those adjustments or leave the program, though doing so during events can reduce the potential bill credits.
The incentive is meant for utility customers who have not already signed up for similar thermostat offers. A related thermostat program currently runs through RG&E and NYSEG on a smaller scale. News10NBC also reported that nearly 40,000 people have enrolled for this Smart Savings Rewards Thermostat Program, which includes a gift card for the thermostat and a $20 credit after each season.
Palmetto can help you understand your HVAC options and slash your energy bills with new, efficient HVACs and heat pumps. Palmetto's Comfort Plan network can help you find efficient heating and cooling solutions for your home and connect you with vetted installers.
More background
State officials view this shared flexibility as a reliability tool, because modest adjustments across a large number of homes can help the grid cope when demand rises.
A smart thermostat can also help cut wasted heating and cooling, and this plan adds a guaranteed monthly credit on top. Participants could save through smarter energy use while also getting paid to sign up.
Save $10,000 on solar panels without even sharing your phone number Want to go solar but not sure who to trust? EnergySage has your back with free and transparent quotes from fully vetted providers in your area. To get started, just answer a few questions about your home — no phone number required. Within a day or two, EnergySage will email you the best options for your needs, and their expert advisers can help you compare quotes and pick a winner. Solar panels can save you more than $50k over their 25-year lifespan, and EnergySage can help you save as much as $10k on installation. Which begs the question — isn't that worth an email or two? |
If you're thinking about making HVAC changes beyond a thermostat, upgrading your heating and cooling system is one of the best ways to cut utility bills and guard against rising energy prices.
If you're not ready to spend up front, Palmetto also offers $0-down options that can lower your heating and cooling costs by up to 50%, along with 12 years of free maintenance. That can be especially helpful for anyone looking to pair a smart thermostat with a more efficient heat pump or HVAC system.
Homeowners can also pair solar panels with electric appliances to reduce utility bills even more. EnergySage can help homeowners research and find the best solar system and installer based on region and budget, with some people saving up to $10,000 on installations.
Get TCD's free newsletters for easy tips, smart advice, and a chance to earn $5,000 toward home upgrades. To see more stories like this one, change your Google preferences here.
