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Con Edison
The Business Incentive Rate is an energy discount program. It is co-administered by the New York City Economic Development Corporation (EDC) and Con Edison. The EDC has the authority to provide BIR benefits.
The Business Incentive Rate reduces the delivery components of electricity bills by 30-35 percent. The Con Edison BIR has a term of 5 - 10 years, plus a 5 year phase-out for customers with a 15 year term. Con Edison does not require an increase in employment to qualify. Con Edison determines the length of the benefit based on the customer's usage.Businesses must receive state or local incentives to qualify. Businesses must also meet at least some of the following requirements:
- Be a manufacturer in New York City.
- Undergo an energy efficiency survey.
- Be approved for another City or State benefit, such as: New York City Industrial Development Agency, Industrial and Commercial Abatement Program, or the Energy Cost Savings Program.
- Apply with 30 days of applying for City or State incentives.
- Retail establishments are excluded from receiving the BIR benefit. This includes stores (such as grocery stores), restaurants, franchises, chain establishments, and related businesses.
- Government entities may not receive the BIR.
- Businesses that move into vacant commercial or industrial buildings, or move into new construction are eligible to apply through Con Edison. Not-for-profit institutions that occupy newly constructed or converted space used predominantly for biomedical research, or business incubators recognized by a government entity or business incubator graduates that continue to exist as a new business must also apply through Con Edison.
Additional resources
Con Edison Green Team
Address
4 Irving Place
New York NY 10003
4 Irving Place
New York NY 10003
Website
http://www.coned.com
Phone
(877) 870-6118
NYC Economic Development Corporation (NYCEDC)
Address
110 William Street, 5th Floor
New York NY 10038
110 William Street, 5th Floor
New York NY 10038
Website
https://edc.nyc/
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