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Residential Financing Programs is sponsored by New York State Energy Research and Development Authority (NYSERDA). NYSERDA offers multiple financing products, including the On-Bill Recovery Loan and the Smart Energy Loan, to help residents finance energy efficiency and renewable energy improvements at their homes. Payments for the On-Bill Recovery Loan can be built into utility bills.
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Residential Financing Programs | NYSERDA Pick a topic, get updates! Residential Financing Programs Apply Now to Residential Financing Programs (opens in new window) Home energy upgrades, from heat pumps to solar panels and insulation, can lower energy costs and pay for themselves over time through energy savings. Still, many homeowners use a combination of incentives and financing, to cover the cost of energy upgrades.
NYSERDA offers a suite of loans to help New York State residents finance energy efficiency improvements and clean energy equipment for existing buildings. Prior to accessing a NYSERDA loan, homeowners must complete a no-cost energy assessment that provides an overview of a home’s energy use and identifies energy-saving opportunities and services for consideration.
Homeowners may use loans to cover the costs of a variety of energy upgrades through the following programs: PSEG Long Island – Home Comfort Program PSEG Long Island – Home Performance Program Projects that include stand-alone additions, new construction, or extensive gut rehabilitation (i.e. demolition to bare walls) are not eligible to access NYSERDA loans.
Residential Financing Options Homeowners could be eligible for up to $25,000 in loans for energy efficiency improvements or clean energy equipment at one- to four-family existing residential properties. Interest rates, repayment terms, and cost effectiveness requirements vary between each type of loan. Loans are not incentives or rebates and must be paid back.
Loans over $13,000 are required by the Green Jobs Green New York (GJGNY) legislation to have a payback period of less than 15 years. Homeowners should work with a participating contractor to help select the loan that works best for their home energy project. With 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. Apply Now to Residential Financing Programs (opens in new window) Technologies covered : Purchase and installation of solar photovoltaic systems, ground source heat pumps, air source heat pumps, and energy efficiency improvements.
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 Projects that include stand-alone additions, new construction, or extensive gut rehabilitation (i.e. demolition to bare walls) projects are not eligible 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).
Apply Now to Residential Financing Programs (opens in new window) Technologies covered : Purchase and installation of solar photovoltaic systems, ground source heat pumps, air source heat pumps, and energy efficiency improvements.
You must own the home or be an authorized representative of the property owner Projects that include stand-alone additions, new construction, or extensive gut rehabilitation (i.e. demolition to bare walls) projects are not eligible 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 The table below summarizes credit approval criteria, but it is not a comprehensive list of loan underwriting guidelines. These standards are subject to change at NYSERDA's discretion. Mortgage has been paid on-time for the past 12 months.
No mortgage payments more than 60 days late during the past 24 months. Bankruptcy, Foreclosure, Repossession History None in the past 24 months Outstanding Collections, Judgments, Liens and Charge-offs No customer will be eligible for a GJGNY Loan if the customer has a prior GJGNY Loan outstanding that is 30 days or more delinquent.
* 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. Loans are originated by Slipstream . If you have additional questions, please contact the Residential Financing Team at [email protected] .
Get Support and Assistance Regional Clean Energy Hubs Access resources and assistance to apply for a no-cost home energy assessment, explore program offerings, find qualified contractors, and make informed energy decisions Learn More Regional Clean Energy Hubs Income-eligible residents and affordable housing owners can receive a customized list of energy-related assistance programs to help pay energy bills and make energy upgrades.
Learn More NY Energy Advisor Comfort Home Program offers incentives for installing seal and insulate packages through qualified contractors who can also help identify where your home is wasting energy. Use the loans for the purchase and installation of energy efficiency upgrades.
Learn More: Comfort Home Program EmPower+ offers income-qualified homeowners a comprehensive, whole-house approach, plus no-cost eligible improvement costs, to enhance energy efficiency and home comfort while saving money. Use the loans for the purchase and installation of energy efficiency upgrades. NY-Sun offers programs and incentives to reduce the costs of solar energy for New York residents and businesses.
NYS Clean Heat offers incentives for installing heat pumps, a more efficient heating and cooling option that eliminates the use of fossil fuels. Use the loans for purchase and installation costs of air source heat pumps, ground source heat pumps, and heat pump water heaters.
Learn More: NYS Clean Heat NYS Clean Heat offers incentives for installing heat pumps, a more efficient heating and cooling option that eliminates the use of fossil fuels. Use the loans for purchase and installation costs of air source heat pumps, ground source heat pumps, and heat pump water heaters.
Learn More: NYS Clean Heat PSEG Long Island Home Performance Program The PSEG Long Island Home Performance Program helps homeowners take a whole home approach to improving energy efficiency. The program includes home energy assessments to identify opportunities for savings, along with rebates for eligible upgrades such as insulation improvements and air and duct sealing.
Customers can also access low interest financing to help cover the purchase and installation of qualifying energy efficiency upgrades, making it easier to reduce energy costs and improve overall comfort. Learn More: Home Performance – PSEG Long Island PSEG Long Island Home Comfort Program The PSEG Long Island Home Comfort Program helps homeowners take a whole home approach to energy efficiency.
The program offers guidance on energy saving improvements, provides rebates on eligible upgrades including high efficiency heat pump systems, and gives customers access to low interest financing to help cover the purchase and installation of qualifying energy efficient equipment. These benefits make it easier and more affordable to enhance home comfort while lowering energy costs.
Learn More: Home Comfort – PSEG Long Island Stay up to date on energy-saving programs and incentives, best practices, and more.
According to the current listing, eligibility includes: New York State residents who own a single-family home or a two- to four-unit building. Income-qualified homeowners are eligible for additional incentives. Confirm the full requirements in the official notice before applying.
The current listing shows loans from $1,500 to $25,000. Verify award ceilings, matching requirements, and allowable costs in the official notice.
Residential Financing Programs is funded by New York State Energy Research and Development Authority (NYSERDA). Verify program details on the funder's official page before applying.
This opportunity targets applicants in New York. If your organization operates elsewhere, check the official notice for location requirements.
Start from the official opportunity page linked in this listing — it carries the sponsor's submission instructions.
NYSERDA's $50M expansion of clean energy workforce funding runs through November 2027 and September 2030. The two tracks have radically different competition levels, cost shares, and award sizes — and the wrong choice will kill an otherwise strong application.
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