Residential Financing Programs

Apply NowFind Interest RateWith 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.

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 Island, NYSEG, National 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

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

The Smart Energy Loan is a traditional loan that you repay monthly via check or automatic payment (ACH).

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

Loan terms:

• Unsecured
• Interest rates are subject to change. For available residential interest rates, click on the Find Interest Rate button.
• 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

Find Interest RateThe Renewable Energy Tax Credit Bridge Loan (Bridge Loan) is a short-term loan product which enables you to finance federal and state tax credits and the NYC Real Property Tax Abatement for eligible renewable energy system products.

The Bridge Loan has a balloon payment of principal and interest due at maturity and can be paid via check or ACH payment. You can pair this loan with a Smart Energy or On-Bill Recovery Loan (combined total cannot exceed $25,000). Speak with your contractor for assistance applying.

Technologies covered: Purchase and installation of solar photovoltaic systems, air source heat pumps, ground source heat pumps, and energy efficiency improvements.

Eligibility:

• You must own the home or be an authorized representative of the property owner

Loan Terms:

• Unsecured
• Interest rates are subject to change. For available residential interest rates, click on the Find Interest Rate button.
• Interest accrues from loan origination
• Loan amounts from $1,500 - $25,000 with loan term of 2 years
• Loan amount may not exceed the maximum of:
  • Federal income tax credit (based on net project cost):
  • The lesser of 30% or $1,200 for all building envelope components, home energy audits, and energy property
  • The lesser of 30% or $2,000 for electric or natural gas heat pump water heaters, electric or natural gas heat pumps, and biomass stoves and biomass
  • 30% tax credit for solar or geothermal projects
  • The New York State Income tax credit for solar and ground source heat pump projects equal to the lesser of $5,000 or 25% of the net project cost.
  • The NYC Real Property Tax Abatement of 5% of the net project cost (offered) for a four-year period, but only one year can be included in the loan).
• Consult with a tax adviser to confirm your tax credit/liability, and the anticipated impact on your federal or state income taxes
• If you sell or transfer the property, you remain responsible for the balance of the loan