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Home Performance with ENERGY STAR®, Existing Home Renovations

The Home Performance with ENERGY STAR® Program provides free or low-cost comprehensive home energy assessment for most New Yorkers and access to low-interest financing for energy efficiency upgrades. Learn more about the Home Performance with ENERGY STAR Program.

The Solar Photovoltaic (PV) Incentive Program provides access to low-interest financing options to residents who wish to generate electricity from sunlight to provide power for their home and reduce their energy bills. Learn more about the Solar PV Incentive Program.

Through both programs, residents can access low-interest financing up to $13,000 per applicant, up to $25,000 if the project meets higher cost-effectiveness standards, and repayment periods of 5, 10, or 15 years.

Option 1: On-Bill Recovery loans provide homeowners the convenience of paying for energy improvements on their utility bill.

  • The current interest rate* is 3.49%
  • Payments will be included in monthly charges from your utility
  • Your annual loan payment is calculated to not exceed the anticipated amount of money you save on energy costs.
  • When you sell your home you will have the option to transfer the unpaid balance of loan to the new owners
  • Requires an On-Bill Recovery Program Declaration. The Declaration is not a lien on the property, but is recorded in a similar way as a Mortgage to provide notice to others of the obligations under the loan transaction.
  • Learn more about the On-Bill Recovery Loan Program.

Option 2: Smart Energy loans offer affordable interest rates, flexible terms and simple repayment options.

  • The current interest rate* is 3.99% or 3.49% if you pay via automatic bank withdrawals
  • Repaid monthly directly to NYSERDA’s loan servicer

Learn more about interest rates and how to apply for both options at Energy Finance Solutions

* The loan repayment period cannot exceed the useful life of the financed measures. Interest rates are subject to change. NYSERDA has the right to access a customer’s credit report, FICO score, and utility payment history, and perform similar credit-related activities for the purpose of evaluating an applicant’s creditworthiness. Financing, energy audits, and workforce development opportunities made available through the Green Jobs - Green NY Act of 2009.

Last Updated: 03/07/2014