Residential financing

There are a number of financing options to help pay for energy-related improvements. Contractors and Energy Advisers can provide additional information on these options.

on-bill recovery loan

The On-Bill Recovery Loan is a NYSERDA loan in which your loan payments are built right into your utility bill. With this loan, your monthly payments may not exceed your estimated average monthly energy cost savings. So your energy savings essentially pay for your work. Loan amounts of $1,500-$25,000 with terms of 5, 10, or 15 years.

smart energy loan

The NYSERDA Smart Energy Loan is more traditional, with a monthly payment to NYSERDA's loan servicer. Amounts are from $1,500-$25,000 with terms of 5, 10, and 15 years.

other financing options

Your contractor may be able to offer you other financing options, and some local bank may offer special loans for energy projects. Home equity loans can also be useful for energy-related improvements.