Low-Interest Loans

Two different loan options are available to help you pay the upfront cost for the energy efficiency improvements in your home. Talk to your participating contractor and select the product that works best for you.

On-Bill Recovery Loan

With the On-Bill Recovery Loan, your monthly payments may not exceed your estimated average monthly energy cost savings. Your loan payments are built right into your utility bill so you will not have an extra bill each month. Your energy savings essentially pay for your work.

  • Interest rate is 3.49%; interest rates subject to change
  • Loan payment built into 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
  • A declaration is filed with the County Clerk to record the obligation of the loan (this is not a lien on the property)
  • 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 Island, NYSEG, National Grid (Upstate NY customers only), Orange & Rockland, and Rochester Gas & Electric
  • View loan details [PDF]

Smart Energy Loan

The Smart Energy Loan is a more traditional loan that offers affordable interest rates and simple repayment options.

  • Interest rate is 3.49% for automatic bank withdrawal (3.99% for pay by check); interest rates subject to change.
  • Monthly payments made to NYSERDA’s loan servicer
  • Loan amounts from $1,500 - $25,000 with loan terms of 5, 10, or 15 years
  • If you sell or transfer the property, you remain responsible for the balance of the loan
  • You must own the home or be an authorized representative of the property owner
  • View loan details [PDF]

To apply, complete application online Link opens in new window - close new window to return to this page. or download application. If you have additional questions, please contact Energy Finance Solutions, NYSERDA's loan provider at 800-361-5663.