New York, NY

Electrification ROI based on Con Edison rates and local rebates

Population: 8,336,000Climate: coldElectric: $0.215/kWhGas: $1.45/therm
Best Upgrade
Solar Panels
4.7 years 146% ROI
Annual Savings
$2,687/year
Full electrification
Total Incentives
$25,150
Federal + utility rebates

Visual ROI Analysis

Payback Period Comparison

Lower is better • Shortest payback = fastest return on investment

Annual Savings Comparison

Higher is better • More annual savings = greater long-term benefit

Cumulative Net Savings Over Time

Point where line crosses $0 = payback achieved • Steeper line = faster savings growth

Detailed ROI by Upgrade

Heat Pump HVAC System

Replace gas furnace + AC with an all-electric heat pump

🌡️

Costs

Upfront cost:$12,000 - $18,000
Federal tax credit:-$2,000
Con Edison rebate:-$2,500
City/state incentives:-$4,000
Net cost:$3,500 - $9,500

Savings & ROI

Annual savings:$67/year
Simple payback:Not Recommended
15-year ROI:-93%
CO₂ reduction:0.5 tons/year
15-year net savings:$-13,992

Solar Panels (6kW System)

Generate your own electricity from the sun

☀️

Costs

Upfront cost:$15,000 - $21,000
Federal tax credit (30%):-$5,400
City/state incentives:-$5,000
Net cost:$4,600 - $10,600

Savings & ROI

Annual savings:$1,695/year
Simple payback:4.7 years
25-year ROI:146%
CO₂ reduction:3.6 tons/year

Full Electrification Package

Heat pump + Solar + Heat pump water heater + EV charger

Costs

Total upfront cost:$30,300 - $45,000
Total federal credits:-$10,400
Total utility rebates:-$3,750
City/state incentives:-$11,000
Net cost:$5,150 - $19,850

Savings & ROI

Annual savings:$2,687/year
Simple payback:5.0 years
15-year ROI:13%
Total CO₂ reduction:10.3 tons/year
15-year net savings:$2,652

New York Energy Context

Climate & Usage

Climate zone:cold
Heating degree days:4,950
Cooling degree days:1,150
Avg home size:1,600 sq ft

Energy Costs

Utility provider:Con Edison
Electricity rate:$0.215/kWh
Natural gas rate:$1.45/therm
Avg monthly bills:$185 elec + $82 gas

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