Residential Financing Options

Now Available. 0% financing for the term of the loan for new applicants.

Currently Accepting Applications

NYSERDA offers two loan options to help New York State residents finance energy efficiency and renewable energy improvements made through NYSERDA’s programs. These loans provide 0% interest rates to New Yorkers for the term of the loan. Talk to your participating contractor and select the loan that works best for you. Loans are not incentives or rebates and must be paid back.

These loan options can be used with the following NYSERDA programs:

On-Bill Recovery Loan

Apply Now With the On-Bill Recovery Loan, your monthly payments may not exceed your estimated average monthly energy cost savings. Your loan payments are built right into your utility bill so you will not have an extra bill each month. Your energy savings essentially pay for your work.

  • 0% interest rate for the loan term 
  • Loan payment is built into 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
  • A declaration is filed with the County Clerk to record the obligation of the loan (this is not a lien on the property)
  • 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 utilityLink opens in new window - close new window to return to this page.

Smart Energy Loan

Apply Now The Smart Energy Loan is a more traditional loan that you repay monthly via check or automatic payment.


  • 0% interest rate for the loan term
  • 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
  • You must own the home or be an authorized representative of the property owner

Loan Approval Criteria

The following table summarizes loan approval criteria, but it is not a comprehensive list of loan underwriting guidelines. These standards are subject to change at NYSERDA's discretion.

Credit Score 540-599 600-679 680-779 780+
Debt-to-Income (DTI)* Up to 70%** Up to 75%** Up to 80%** No limit
Mortgage Payment History

Mortgage has been paid on-time for the past 12 months. No mortgage payments more than 60 days late during the past 12 months.

Bankruptcy, Foreclosure, Repossession History

None in the past 24 months

Outstanding Collections, Judgments, Liens and Charge-offs

May not exceed $2,500

* Debt-to-Income (DTI) is a measure of your existing debt payment obligations (mortgage, auto loan, student loan, credit card payments, etc.) to your income.

**DTI is up to 100% for applicants who qualify for the Assisted Home Performance with ENERGY STAR 50% discount and up to 80% for applicants who qualify for Affordable Solar Incentives or the Low or Medium Income (LMI) Pellet Stove Incentives.


If you have additional questions, please contact Energy Finance Solutions, NYSERDA's loan provider at 800-361-5663.