NYSERDA

Pick a topic, get updates! (opens in new window) Find a Program Find A Contractor About Language Print this page back to top Back to All Programs Residential Financing Programs Apply Now  to Residential Financing Programs  (opens in new window) Home energy upgrades, from heat pumps to solar panels and insulation, can lower energy costs and pay for themselves over time through energy savings. Still, many homeowners use a combination of incentives and financing, to cover the cost of energy upgrades. NYSERDA offers a suite of loans to help New York State residents finance energy efficiency improvements and clean energy equipment for existing buildings. Prior to accessing a NYSERDA loan, homeowners must complete a no-cost energy assessment  that provides an overview of a home’s energy use and identifies energy-saving opportunities and services for consideration. Homeowners may use loans to cover the costs of a variety of energy upgrades through the following programs: Comfort Home Program EmPower+ PSEG Long Island – Home Comfort Program NY-Sun NYS Clean Heat PSEG Long Island – Home Performance Program Projects that include stand-alone additions, new construction, or extensive gut rehabilitation ( demolition to bare walls) are not eligible to access NYSERDA loans. Residential Financing Options Homeowners could be eligible for up to $25,000 in loans for energy efficiency improvements or clean energy equipment at one- to four-family existing residential properties. Interest rates, repayment terms, and cost effectiveness requirements vary between each type of loan. Loans are not incentives or rebates and must be paid back. Loans over $13,000 are required by the Green Jobs Green New York (GJGNY) legislation to have a payback period of less than 15 years. Homeowners should work with a participating contractor to help select the loan that works best for their home energy project. On-Bill Recovery Loan With the On-Bill Recovery (OBR) Loan, your loan payments are paid as part of your utility bill. Estimated average monthly energy cost savings must be greater than monthly loan payments to use the OBR loan. Find Interest Rate Apply Now to Residential Financing Programs  (opens in new window) Technologies covered : Purchase and installation of solar photovoltaic systems, ground source heat pumps, air source heat pumps, and energy efficiency improvements. Eligibility : You must own the home and be named on the utility account The home must be served by a participating utility, including: Central Hudson Gas & Electric, Con Edison, PSEG-Long Grid (Upstate NY customers only), Orange & Rockland, and Rochester Gas & Electric Electric customers of PSEG Long Island may be eligible, but must apply directly through their utility Projects that include stand-alone additions, new construction, or extensive gut rehabilitation ( demolition to bare walls) projects are not eligible Loan terms: Unsecured Interest rates are subject to change. For available residential interest rates, click on the Find Interest Rate button. Loan payment is paid through your utility bill Loan amounts from $1,500 - $25,000 with loan term of 5, 10 or 15 years Balance may be transferred to new owner when home is sold as long as written notice is provided to new owner A declaration is filed with the County Clerk to record the obligation Smart Energy Loan The Smart Energy Loan is a traditional loan that you repay monthly via check or automatic payment (ACH). Find Interest Rate Apply Now to Residential Financing Programs  (opens in new window) Technologies covered : Purchase and installation of solar photovoltaic systems, ground source heat pumps, air source heat pumps, and energy efficiency improvements. Eligibility: You must own the home or be an authorized representative of the property owner

: You must own the home and be named on the utility account The home must be served by a participating utility, including: Central Hudson Gas & Electric, Con Edison, PSEG-Long Grid (Upstate NY customers only), Orange & Rockland, and Rochester Gas & Electric Electric customers of PSEG Long Island may be eligible, but must apply directly through their utility Projects that include stand-alone additions, new construction, or extensive gut rehabilitation ( demolition to bare walls) projects are not eligible Loan terms: Unsecured Interest rates are subject to change. For available residential interest rates, click on the Find Interest Rate button. Loan payment is paid through your utility bill Loan amounts from $1,500 - $25,000 with loan term of 5, 10 or