Participation Loan - How to Apply

Step 1:

Financing Energy Efficiency Improvements

Organizations need a qualified energy assessment to apply for financing.

Small businesses and not-for-profits can get qualified energy assessments through NYSERDA FlexTech program, utility programs, or from qualified energy consultants. All energy assessments must meet NYSERDA’s qualified energy assessment standards [PDF].

Qualified energy assessments identify upgrades that can help reduce energy costs.

Financing the Purchase and Installation of a PV System

Once you have selected a PV contractor, the contractor will review your building for orientation and shading. He or she will then review with you the findings, and show you the project cost and any incentives that may be available. With your approval, the contractor will submit to NYSERDA the Project Application. If the Project Application is approved by NYSERDA then it may qualify for financing.

If, after accounting for all incentives, the PV system has a payback period of 15 years or less, then the system qualifies for Participation Loan financing, and you will be sent a project eligibility letter and appropriate documentation.

Continue with Step 5.

Step 2:
Before applying for financing, small businesses and not-for-profits need to:

  • Decide which assessment recommendations to implement
  • Identify any available utility incentives
  • Get contractor quotes on the cost of doing the work

Step 3:
To apply for energy efficiency projects, small businesses and not-for-profits must complete the Request for Financing Package which includes:

Step 4:
Send your completed and signed Request for Financing Package to NYSERDA for approval by mail or email.

By mail:

By email:

Small Commercial Energy Efficiency Financing
Attention: Kevin Hunt
17 Columbia Circle
Albany, NY 12203-6399

NYSERDA will notify the customer if the Request for Financing Package is approved or if additional information is required.

Organizations may choose to initiate project planning and development related to their energy efficiency project (e.g., design and specification, contract documents and bids, ordering equipment, scheduling work) prior to their loan closing. However, they do so at their own risk. Organizations may begin installation of their energy efficiency projects only after they close on the loan with their lender. Organizations that install any portion of their energy efficiency project prior to loan closing may be disqualified from the program.

Step 5:
To apply for your loan, take your NYSERDA-approved Request for Financing Package to a participating lender of your choice. A list of Participating Lenders can be found on NYSERDA's Small Commercial Lenders List [PDF].

Step 6:
The lender will decide whether or not to issue a Participation Loan to an organization based on the lender's underwriting criteria. The lender will add the Project Participation Agreement to the Request for Financing Package, indicating the loan terms it has determined for the Borrower, and submit it to NYSERDA for approval.

Organizations that install any portion of their energy efficiency project prior to loan closing may be disqualified from the program.

What Happens After the Lender Issues the Participation Loan to My Organization?

For financing energy efficiency improvements, you have 90 days to complete the energy efficiency project after the lender closes the loan.

For financing the purchase and installation of a PV system, you have 270 days to complete the installation of the PV system once the loan closes.

The lender will invoice you for the entire loan payment, and will remit NYSERDA's portion of the payment to NYSERDA.

Will Someone Verify That the Project Was Completed as Planned?

NYSERDA reserves the right to make post-installation visits to ensure the qualified energy efficiency services have been installed consistent with the approved Request for Financing Package.

Who Can My Organization Contact for More Information?

Questions about the program may be directed to 1-866-NYSERDA or by email to

*Late, incomplete, or unsigned Requests for Financing will be returned. Requests for Financing will not be accepted at any other NYSERDA location other than the address identified on the forms.