NYSERDA - Residential Financing Options

NYSERDA offers a suite of loans under the Green Jobs-Green New York (GJGNY) Program to help New York State residents finance energy efficiency improvements, and renewable energy systems. Eligible projects include the purchase and installation of solar photovoltaic systems, ground source heat pumps, air source heat pumps, and energy efficiency improvements. Prior to accessing a NYSERDA loan, homeowners must have an energy assessment or audit that identifies energy services to be undertaken.

On-Bill Recovery (OBR) Loan:

The OBR Loan is available to homeowners who are named on the utility account, and serviced by Central Hudson, Con Edison, PSEG-Long Island (must apply directly through utility), NYSEG, National Grid (upstate customers only), Orange & Rockland, or Rochester Gas & Electric. With the OBR Loan, loan payments are paid as part of the customer's utility bill. Estimated average monthly energy cost savings must be greater than monthly loan payments to use this loan. Loan amounts vary from $1,500 - $25,000 with a term of 5, 10, or 15 years. Loan balances may be transferred to a new owner when the home is sold, as long as written notice is provided to the new owner.

Smart Energy Loan:

The Smart Energy Loan is a traditional loan that is repaid monthly via check or automatic payment. To qualify for this loan, applicants must own the home or be an authorized representative of the property owner. Loan amounts vary from $1,500 - $25,000 with a loan term of 5, 10, or 15 years. If the property is sold or transferred, the applicant remains responsible for the balance of the loan.

Homeowners may use loans for the following programs

• EmPower+: Offers income-qualified homeowners a comprehensive, whole-home approach, plus discounts up to 50% of eligible improvement costs, to enhance energy efficiency and home comfort while saving money. The loans may be used for the purchase and installation of energy efficient upgrades.
• Comfort Home Program: Offers incentives for installing seal and insulate packages through qualified contractors who can also help identify where your home is wasting energy. Use the loans for the purchase and installation of energy efficiency upgrades.
• NY-Sun: Offers programs and incentives to reduce the costs of solar energy for New York residents and businesses.
• NYS Clean Heat: Offers incentives for installing heat pumps, a more efficient heating and cooling option that eliminates the use of fossil fuels. Use the loans for purchase and installation costs of air source heat pumps, ground source heat pumps, and heat pump water heaters.
• PSE&G Home Performance: Offers PSE&G customers a whole-home approach to energy efficiency and can lower energy costs plus offers rebates on energy-saving home improvements plus offers. Loans may be used for the purchase and installation of energy efficient upgrades. 
• PSE&G Home Comfort Program: Offers PSE&G customers more efficient heating and cooling options that eliminate fossil fuels. Loans may be used for the purchase and installation costs of air source heat pumps.

Income Eligible Households:

Through NY Energy Advisor, income-eligible residents and affordable housing owners can receive a customized list of energy-related assistance programs to help pay energy bills and make energy-related improvements.

Solar Water Heat, Geothermal Electric, Solar Photovoltaics, Biomass, Refrigerators/Freezers, Dehumidifiers, Equipment Insulation, Water Heaters, Lighting, Furnaces, Boilers, Heat pumps, Air conditioners, Programmable Thermostats, Duct/Air sealing, Building Insulation, Custom/Others pending approval, Other EE, LED Lighting