Solar Financing Options

A properly sized and installed solar electric system can provide a significant percentage of electric needs for many homes, small businesses, larger commercial/industrial buildings, and not-for-profit organizations. NY-Sun provides financial incentives for installing a solar electric system through a Participating Contractor in New York State.

Residential & Small Commercial 

In addition to incentives, NY-Sun offers financing options for residential buildings with four or fewer dwelling units and commercial buildings that are used by small businesses or not-for-profit organizations. (These financing options do not apply to large commercial businesses.)

For additional information about residential financing, consult:


For residential customers, loans are available for up to $13,000, or up to $25,000 with higher cost-effectiveness standards, with repayment periods of 5, 10, or 15 years.

For small businesses and not-for-profit organizations, Participation Loans of up to $100,000 at below the market interest rate and On-Bill Recovery loans of up to $50,000 at 2.5% interest are available, with repayment periods of up to 10 years.

Option 1: Residential and Small Business/Not-for Profit On-Bill Recovery Loan

Provides the convenience of paying for energy improvements on your utility bill.

  • For residential loans, interest rates are subject to the customer’s credit qualification. Use the interest rate estimator to determine which interest rate may be available to you.
  • For small business and not-for-profit loans the current interest rate is 2.5%.
  • Interest rates are subject to change.
  • Payments will be included in monthly charges from your utility.
  • Repayments are made through a monthly installment charge on your utility bill.
  • Monthly payments may not exceed the estimated energy cost savings from the energy upgrades, which means the energy savings may cover most or all of your loan payment.
  • Requires a declaration to be signed and filed by NYSERDA. The declaration is not a lien on the property, but is recorded to provide notice to others of the obligation under the loan note.
  • In the event your property is sold, the unpaid balance of the loan may be transferred to the new owners.
  • For full eligibility requirements and instructions on how to apply for a Residential On-Bill Recovery Loan, visit Energy Finance Solutions or call 1-800-361-5663.
  • Learn more about the On-Bill Recovery Loan for Small Businesses and Not-for-Profits.

Option 2: Residential Smart Energy Loan

Offers affordable interest rates, flexible terms, and simple repayment options.

  • For residential loans, interest rates are subject to the customer’s credit qualification. Use the interest rate estimator to determine which interest rate may be available to you
  • Interest rates are subject to change.
  • Repayments are made directly to NYSERDA’s loan servicer.
  • For full eligibility requirements and instructions on how to apply, visit Energy Finance Solutions or call 1-800-361-5663.

Option 3: Small Commercial Participation Loans

  • NYSERDA partners with lenders to help small business and not-for-profit organizations access up to $100,000 in financing at a below-market interest rate.
  • NYSERDA offers 50% of the project cost, up to $50,000, at 2% interest and the participating lender provides the remainder of the loan at the market interest rate.
  • Borrowers make loan payments directly to their lender like a typical loan.
  • Learn more about how to apply for Small Commercial Participation Loans.



Easy, Long-Term, Low-Cost Financing for Solar Energy Projects

Energize NY provides commercial building owners and not-for-profits with an alternative source of affordable financing for up to 100% of the cost of solar and energy efficiency projects of all sizes

Energize NY financing differs from traditional financing options because

  • eligibility for financing is not based on traditional credit scores, but rather on the building’s ability to save energy as a result of the solar project
  • the financing is repaid through an annual charge on the tax bill for the property over the term of the loan
  • the financing automatically transfers to the new owner if the property is sold during the loan term
  • financing is available for up to 100% of the project cost, with flexible customizable loan terms up to 20 years
Energize NY offers competitive interest rates (4% to 6.5%) depending upon market conditions and even lower rates for not-for-profits located in Westchester County.

Applying for Energize NY financing is easy, with an online application, fast approvals and customer service to help you through the process. Energize NY financing is currently available in 24 counties, cities and towns in NY and is expanding across the State. See if Energize NY financing is available in your community today.

If you answer “Yes” to the following questions, then you qualify for Energize NY financing and can apply now.

  • Is your property is located in an Energize NY communityLink opens in new window - close new window to return to this page.?
  • Is your property’s loan to value ratio less than or equal to 80%?
  • Is the amount of financing sought less than 10% of the value of the property?
  • Have you been bankruptcy–free for the past 7 years?
  • Have all property taxes been paid on time for the past 3 years?
  • Are the estimated avoided electric costs from the solar installation greater than the annual cost of the financing?

See how other businesses and not-for-profits have used Energize NY financing to make their solar projects possible and more affordable. 

Learn more about Energize NY’s financing and other clean energy services.