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New York

New York

Incentives/Policies for Renewables & Efficiency

Printable Version
Home Performance with Energy Star Financing   

Last DSIRE Review: 01/07/2013
Program Overview:
State: New York
Incentive Type: State Loan Program
Eligible Efficiency Technologies: Clothes Washers, Dishwasher, Refrigerators, Dehumidifiers, Equipment Insulation, Water Heaters, Lighting, Furnaces , Boilers, Heat pumps, Central Air conditioners, Programmable Thermostats, Duct/Air sealing, Building Insulation, Windows, Doors, Custom/Others pending approval, Room Air Conditioners, Health and Safety Measures
Eligible Renewable/Other Technologies: Solar Water Heat, Biomass, Geothermal Heat Pumps
Applicable Sectors: Residential
Amount:Up to 100% of costs; loans from $3,000 - $25,000 (minimum loan of $1,500 for income qualified customers); loan limit is $13,000 for projects with a payback period of longer than 15 years
Terms:On-bill Financing: 3.49% APR; fixed loan terms of 5, 10, or 15 years (may be limited by useful life of measure)
Unsecured loan: 3.49% or 3.99% APR (based on repayment method); fixed loan terms of 5, 10, or 15 years (may be limited by useful life of measure)
Funding Source:Energy Efficiency Portfolio Standard (EEPS)/Regional Greenhouse Gas Initiative (RGGI)
Web Site:

NYSERDA offers several options for homeowners to finance energy efficiency improvements made under the Home Performance with Energy Star program. NYSERDA partners with Energy Finance Solutions (EFS) to offer either on-bill financing or an unsecured loan for the installation of eligible energy efficiency measures in owner-occupied 1-4 family homes. EFS administers the loans, but the NYSERDA program subsidizes the interest rates, resulting in favorable terms for program participants. In order to participate in the on-bill financing program, the homeowner must be a customer of one of the following participating utilities: Central Hudson, Con Edison, Long Island Power Authority, National Grid (Upstate), New York State Electric and Gas, Orange and Rockland, or Rochester Gas and Electric.

The on-bill financing and unsecured loan options are generally use similar procedures and terms, although some differences do exist. To initiate the loan, a Comprehensive Home Assessment (CHA) must be performed by a certified Building Performance Institute (BPI) contractor, which may cost a small fee. In many cases the customer will be eligible for a reduced or no-cost energy home assessment depending in part on their income level. After the CHA is performed, the borrower will work with the contractor to decide what improvements should be made. In order to be eligible for a loan, the improvements must have a savings to investment ratio of at least 1.0. For any improvements and replacement appliances, the borrower will sign a customer contract and a “Home Performance Work Scope.” After a credit check and these forms are submitted, work may begin. Following completion of the work, a Certificate of Completion will be sent to the program administrator. Following review and approval, payment will be rendered directly to the contractor and the borrower will commence repaying the loan. For the on-bill financing option, the payment obligation will be included in the monthly charges from the utility.

The unsecured loan program is available statewide to all New York residents, although as noted above the on-bill financing option is limited to customers of participating utilities. To the extent that the customer is eligible for other energy efficiency incentive programs (e.g., from their utility), NYSERDA will coordinate with the respective program administrators to minimize confusion. Participants in the financing programs remain eligible for other incentives offered by utilities or by NYSERDA, including the NYSERDA Home Performance with Energy Star High Efficiency Measure Incentive (HEMI) and the NYSERDA Assisted Home Performance Grants Program. For further information on this program, please consult the program website(s) or use the contact information provided below.

  Public Information - Residential Programs
New York State Energy Research and Development Authority
17 Columbia Circle
Albany, NY 12203-6399
Phone: (877) 697-6278
Web Site:
NCSU - home
Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.

While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.

Copyright 2013 - 2014 North Carolina State University, under NREL Subcontract No. XEU-0-99515-01. Permission granted only for personal or educational use, or for use by or on behalf of the U.S. government. North Carolina State University prohibits the unauthorized display, reproduction, sale, and/or distribution of all or portions of the content of the Database of State Incentives for Renewables and Efficiency (DSIRE) without prior, written consent.