Homeowner Financing

Residential Financing is available to participants in the Home Performance with ENERGY STAR® Program to finance the installation of recommended energy efficiency improvements that may be repaid through energy savings.

How to participate:

1. Conduct a comprehensive Home Energy Assessment using a participating Building Performance Institute (BPI) Accredited Home Performance contractor. The contractor will make recommendations for energy improvements.
2. Develop a Scope of Work with the Home Performance contractor and submit a signed copy to NYSERDA for review and approval. Financing is only available for recommendations that are determined to be cost-effective.
3. Complete and sign the residential credit application [PDF].
4. Implement the work using a participating Home Performance (HP) contractor. All work is subject to inspection by NYSERDA.
5. Sign a Certificate of Completion with the contractor when the work is satisfactorily completed. The contractor receives payment from the program lender.

The loan repayment period cannot exceed the weighted useful life of the financed measures. The minimum financing amount is $3,000 for Home Performance with ENERGY STAR and $1,500 for customers that qualify for Assisted Home Performance with ENERGY STAR.

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.

For more information about Green Jobs - Green New York Financing, visit Energy Finance Solutions.

On-Bill Recovery Financing

On-Bill Recovery Financing 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.

Participate in the Home Performance with ENERGY STAR® Program to have a BPI accredited contractor perform a comprehensive home energy assessment and recommend energy-efficiency improvements. Then, make your project even more affordable by paying for your energy-efficiency improvements through NYSERDA’s special low-rate On-Bill Recovery Financing.

It’s a convenient way to finance improvements that make your home more energy efficient and comfortable. The payments appear as a separate line item on your utility bill and are financed at a special low interest rate that may be tax deductible. No payments are due until June 2012, and it is transferable if you sell your property.

Customers of the following utilities are eligible for the On-Bill Recovery Financing: Central Hudson Gas and Electric, Con Edison, Long Island Power Authority, New York State Electric and Gas Corporation, National Grid (upstate NY customers only), Orange and Rockland, and Rochester Gas and Electric Corporation.

• Learn more about residential On-Bill Recovery Financing. [PDF]