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New York Energy Programs
STATE LOAN PROGRAMS
NYSERDA - Green Jobs-Green New York Financing Program
Program Overview:
Summary:
Through the Green Jobs-Green New York (GJGNY) program, NYSERDA partners with Energy Finance Solutions (EFS) to offer an unsecured loan for the installation of eligible energy efficiency measures in owner-occupied 1-4 family homes. EFS administers the loans, but GJGNY program subsidizes the interest rates, resulting in favorable terms for program participants.
On-Bill Recovery Financing Program
- Convenient – no separate bill to pay
- Repay from the money you save on energy
- Low 2.99% interest rate
- Transferrable if you sell your property
A new option for financing the improvements that make your home more energy efficient and comfortable.
For Residents
The On-Bill Recovery Financing Program allows you to finance energy efficiency improvements to your home through a charge on your utility bill. Your repayment amount will be based on projected savings on your energy bills.
To initiate the loan, a Comprehensive Home Assessment (CHA) must be performed by a certified Building Performance Institute (BPI) contractor, which may cost a small fee. In many cases the customer will be eligible for a reduced or no-cost energy home assessment depending in part on their income level. After the CHA is performed, the borrower will work with the contractor to decide what improvements should be made. In order to be eligible for a loan, the improvements must have a savings to investment ratio of at least 1.0. For any improvements and replacement appliances, the borrower will sign a customer contract and a “Home Performance Work Scope.” After a credit check and these forms are submitted, work may begin. Following completion of the work, a Certificate of Completion will be sent to the program administrator. Following review and approval, payment will be rendered directly to the contractor and the borrower will commence repaying the loan.
The program is available statewide to all New York residents. To the extent that the customer is eligible for other energy efficiency incentive programs (e.g., from their utility), NYSERDA will coordinate with the respective program administrators to minimize confusion. Participants in the GJGNY Financing program remain eligible for other incentives offered by utilities or by NYSERDA, including theNYSERDA Home Performance with Energy Star Financing Incentive and the NYSERDA Assisted Home Performance Grants Program. For further information on this program, please consult the program website(s) or use the contact information provided below.
STATE GRANT PROGRAMS
NYSERDA - Assisted Home Performance Grants
Program Overview:
Summary:
Through the Green Jobs-Green New York (GJGNY) program, NYSERDA partners with Energy Finance Solutions (EFS) to offer an unsecured loan for the installation of eligible energy efficiency measures in owner-occupied 1-4 family homes. EFS administers the loans, but GJGNY program subsidizes the interest rates, resulting in favorable terms for program participants.
To initiate the loan, a Comprehensive Home Assessment (CHA) must be performed by a certified Building Performance Institute (BPI) contractor, which may cost a small fee. In many cases the customer will be eligible for a reduced or no-cost energy home assessment depending in part on their income level. After the CHA is performed, the borrower will work with the contractor to decide what improvements should be made. In order to be eligible for a loan, the improvements must have a savings to investment ratio of at least 1.0. For any improvements and replacement appliances, the borrower will sign a customer contract and a “Home Performance Work Scope.” After a credit check and these forms are submitted, work may begin. Following completion of the work, a Certificate of Completion will be sent to the program administrator. Following review and approval, payment will be rendered directly to the contractor and the borrower will commence repaying the loan.
The program is available statewide to all New York residents. To the extent that the customer is eligible for other energy efficiency incentive programs (e.g., from their utility), NYSERDA will coordinate with the respective program administrators to minimize confusion. Participants in the GJGNY Financing program remain eligible for other incentives offered by utilities or by NYSERDA, including theNYSERDA Home Performance with Energy Star Financing Incentive and the NYSERDA Assisted Home Performance Grants Program.
