Fix First HomeWhat home-upgrade rebates actually pay — and who you apply to.

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New York geothermal energy system credit open

Administered by the New York State Department of Taxation and Finance.

New York's income tax credit is 25% of what you spend on a ground-source heat pump at your home, up to $10,000 for systems placed in service from 1 July 2025 ($5,000 before). It is not refundable; unused credit carries forward five years.

source · verified 26 September 2026 · amounts in US dollars

What it pays

Rebate amounts by upgrade and condition
UpgradeConditionUp to
Ground-source heat pumpPlaced in service on or after 1 July 2025; 25% of qualified expenditures$10,000
Ground-source heat pumpPlaced in service on or before 30 June 2025$5,000

Who is eligible

home
Your residence when the system was placed in service, and not rented out at any time that tax year.
claim
Form IT-267. One system per tax year; bought or leased.

Where the application goes

With your New York income tax return.

Where the application goes
If this is youApply here
Form IT-267tax.ny.gov

The thing most pages get wrong

Many pages still give New York's geothermal credit as up to $5,000. The limit doubled to $10,000 for systems placed in service on or after 1 July 2025.

Sources