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Residential

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 upgrades. Learn more about the Home Performance with ENERGY STAR Program.

The Solar Electric (PV) Incentive Program provides access to low-interest financingLink opens in new window - close new window to return to this page. 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 Electric (PV) Incentive ProgramLink opens in new window - close new window to return to this page..

Through eligible programs, residents can access low-interest financing up to $13,000 per applicant, or up to $25,000 if the project meets higher cost-effectiveness standards. Repayment is available in terms of 5, 10, or 15 years.

Option 1: On-Bill Recovery Loans provide homeowners the convenience of paying for energy improvements as a line item on their utility bill.

  • The current interest rate* is 3.49%
  • Your annual loan payment is calculated to not exceed the anticipated energy cost savings
  • If you sell or rent your home you will have the option to transfer the unpaid balance of loan to the new owner or tenant
  • Requires an On-Bill Recovery Program Declaration to be filed with the county recorder’s office. 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

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 and 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 New York Act of 2009.

Last Updated: 10/16/2014