NYSERDA, in partnership with Energy Finance Solutions (EFS), offers an unsecured loan for the installation of qualified energy efficient and renewable energy measures in owner-occupied 1-2 family homes. EFS administers the loans, but NYSERDA subsidizes the interest rates, resulting in favorable terms for program participants. 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. After the CHA is performed, the borrower will work with the contractor to decide what improvements should be made. For any improvements and replacement appliances, the borrower will sign a customer contract and a â€œHome Performance Work Scope.â€ 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. As with other programs funded by the state system benefits charge (SBC), eligibility is limited to homeowners who receive electric service from one of the following utilities:
|Incentive Type:||Loan Program|
|Administrator:||Energy Finance Solutions|
|Eligible Renewable/Other Technologies:||
|Maximum Loan:||$15,000 or $20,000, depending on applicant's credit score|
|Loan Term:||5.99% APR; fixed loan terms of 3, 5, 7 and 10 years; Unsecured loan|
|Name:||Public Information Officer (EFS)|
431 Charmany Drive
Madison WI 53719
This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.
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