Residential Loan Fund

November 20, 2012


The New York State Energy Research and Development Authority (NYSERDA) has extended the Participation Agreements of the Assisted Home Performance Program Lenders. Lenders may continue to offer customers access to the Residential Loan Fund Program through December 31, 2012.

The New York Residential Loan Fund, administered by the NYSERDA, provides reduced-interest rate loans through participating lenders to finance renovation or construction projects that improve a home's energy efficiency. The level of interest rate reduction may be up to 4%, but is adjusted to maintain a floor rate of 3%. Loans are limited to residents in 1-4 family homes that are customers of one of the state's six investor-owned electric or natural gas utilities -- Central Hudson Gas & Electric Corporation, Consolidated Edison Company of New York, Inc., National Grid, New York State Electric & Gas Corporation, Orange and Rockland Utilities, Inc., or Rochester Gas and Electric Corporation -- and that pay the System Benefits Charge (SBC). Customers are eligible for loans of up to $20,000 for up to a 10-year loan term.

In order to qualify for the program, the customer must participate in the NYSERDA Home Performance with Energy Star Program and abide by the accompanying program rules and regulations. Formerly the loan program allowed participants in the NYSERDA Wind Incentive and Photovoltaic (PV) Incentive programs to apply for assistance; however, recent revisions to the Wind Incentive and PV Incentive programs do not allow participants to also take advantage of the Residential Loan Fund.

Please consult the Residential Loan Fund and NYSERDA Home Performance with Energy Star websites for additional program information.

Program Overview

Implementing Sector: State
Category: Financial Incentive
State: New York
Incentive Type: Loan Program
Web Site:
Administrator: New York State Energy Research and Development Authority
Start Date: 11/10/2009 (current offering)
Eligible Renewable/Other Technologies:
  • Solar Water Heat
  • Biomass
  • Geothermal Heat Pumps
  • Clothes Washers
  • Dishwasher
  • Refrigerators/Freezers
  • Dehumidifiers
  • Water Heaters
  • Lighting
  • Furnaces
  • Boilers
  • Heat pumps
  • Air conditioners
  • Heat recovery
  • Programmable Thermostats
  • Duct/Air sealing
  • Building Insulation
  • Windows
  • Doors
Maximum Loan: $20,000
Loan Term: Up to 4.0% below the lender rate for ten years; rate adjusted to maintain a floor interest rate of 3.0%


Name: Joseph DeRosa
Organization: New York State Energy Research and Developmen
Address: 17 Columbia Circle
Albany NY 12203-6399
Phone: (518) 862-1090

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.