Brightcore Energy Advocates for the Creation of New Incentive Program for Geothermal Conductivity Tests

ARMONK, N.Y.--(BUSINESS WIRE)--Brightcore Energy, LLC, a leading provider of end-to-end renewable energy solutions to commercial and institutional markets, is pleased to announce that an incentive program that the company petitioned for and subsequently supported Con Edison in creating has been approved. The Thermal Conductivity Testing (“TCT”) Incentive program becomes a part of Con Edison’s Clean Heat Program and will offset the eligible costs of Geothermal Conductivity Tests by 50%, up to a maximum incentive of $40,000.

 

Brightcore executives saw the opportunity to approach Con Edison with the idea for the test well incentive program to help reduce the pre-development costs for potential clients considering a geothermal heating and cooling system. Geothermal Heating and Cooling systems have the potential to greatly reduce the energy and resulting greenhouse gas emissions required to heat and cool buildings. In New York City alone, nearly 70% of GHG emissions are the result of heating and cooling the built environment.

“I’m quite proud of our team for recognizing an opportunity here to offset a potential barrier to entry for our clients and increase the adoption of geothermal heating and cooling systems. We pride ourselves on the intellectual capital that our team brings to our clients, and this is clear evidence of that,” said Mike Richter, President of Brightcore Energy.

Among other requirements, applicants must submit a pre-testing application package. Con Edison will review the pre-testing application package to determine eligibility, after which Con Edison will provide written confirmation of eligibility to the applicant. After testing has been completed, the Participating Clean Heat Contractor must submit a post-testing application package. Con Edison will then review the post-testing application to determine the final incentive.