Incentives & Financing

NY-Sun makes going solar easier and more affordable for New York residents. We offer incentives and financing options to lower the cost of purchasing and installing solar at home.

Incentives

NY-Sun works directly with solar contractors and developers to offset the cost for New York residents to go solar. Incentives are provided directly to your selected contractor and vary throughout the State. You will need to work with a NYSERDA-approved participating contractor to find out if you are eligible for NY-Sun incentives.

We offer additional incentives to some homeowners through Affordable Solar, which doubles the amount received for households earning less than 80 percent of the median income in the area. Affordable Solar works just like other NY-Sun incentives, except it requires minor low-cost energy efficiency upgrades to your home and a complete Affordable Solar Incentive Eligibility Application [PDF]. You can fill out and submit the application on your own or work with your contractor.

To find out what incentives you may be eligible for, find a participating contractor in New York State.  

Financing Options

In addition to incentives, NY-Sun offers two loan options for residents: On-Bill Recovery and Smart Energy loans. Loan amounts are available from $1,500 to $25,000 with loan terms of five, 10, or 15 years to help New York residents finance solar installation. 

For additional information about residential financing, we encourage you to consult the New York Homeowner’s Guide to Solar Financing: Loans, Leases, and PPAs [PDF]

Option 1: On-Bill Recovery Loans

What are they? Residential On-Bill Recovery loans make it easy to pay and manage installation costs by adding them as a line item to your monthly utility bill. If you decide to sell your home and move, the unpaid balance of the loan can easily be transferred to the new homeowners.

Terms. Interest rates are subject to the customer’s credit qualification. We encourage you to use our interest rate estimator to determine which rate may be available to you. Rates are subject to change.

Learn More. For full eligibility requirements and instructions on how to apply for a Residential On-Bill Recovery loan, visit Energy Finance SolutionsLink opens in new window - close new window to return to this page. or call 1-800-361-5663.

Option 2: Smart Energy Loans

What are they? Through our residential Smart Energy loans, your repayments are made directly to NYSERDA’s loan servicer.

Terms. Interest rates are subject to the customer’s credit qualification. We encourage you to use our interest rate estimator to determine which rate may be available to you. Rates are subject to change.

Learn More. For full eligibility requirements and instructions on how to apply for a Smart Energy loan, visit Energy Finance SolutionsLink opens in new window - close new window to return to this page. or call 1-800-361-5663.