Residential Financing Programs - NYSERDA

NYSERDA offers a suite of loans under the Green Jobs-Green New York (GJGNY) Program to help New York State residents finance energy efficiency improvements, and renewable energy systems.

Prior to accessing a NYSERDA loan, homeowners must have an energy assessment or audit that identifies energy services to be undertaken. Homeowners may use loans for the following programs:

Assisted Home Performance with ENERGY STAR^®: Offers income-qualified homeowners a comprehensive, whole-house approach, plus discounts up to 50% of 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.
Residential Energy Assessment Program and Comfort Home Pilot: Identifies where your home is wasting energy and how you can save money and improve your home’s comfort year-round. Use the loans for the purchase and installation of energy efficiency upgrades.
NY-Sun: Makes going solar accessible and affordable. Use the loans to purchase and install solar at home.
NYS Heating and Cooling: Offers more efficient heating and cooling option that eliminate fossil fuels. Use the loans for purchase and installation costs of air source and ground source heat pumps.
PSE&G Home Performance with ENERGY STAR: Offers PSE&G customers a whole-home approach to energy efficiency and can lower energy costs plus offers rebates on energy-saving home improvements plus offers. Use the loans for the purchase and installation of energy efficiency upgrades.
PSE&G Home Comfort Program: Offers PSE&G customers more efficient heating and cooling options that eliminate fossil fuels. Use the loans for purchase and installation costs of air source heat pumps.

Residential Financing Options

Homeowners could be eligible for up to $25,000 in loans for energy efficiency improvements or renewable energy installations at one- to four-family 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.

Homeowners can work with a participating contractor to help select the loan that works best for your home energy project.

Loan Approval Criteria

The following table summarizes loan approval criteria, but it is not a comprehensive list of loan underwriting guidelines. These standards are subject to change at NYSERDA’s discretion.

Credit Score	540-599	600-639	640-679	680-719	720+
Debt-to-Income (DTI)*	40%	45%	50%	60%	No limit
Mortgage Payment History	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	May not exceed $2,500
Prior GJGNY Loans	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.

Get Support

To help New Yorkers navigate clean energy opportunities, NYSERDA launched the Regional Clean Energy Hubs – teams of trusted, knowledgeable, community-based organizations across the state. Hubs can provide resources and assistance to make informed energy decisions, apply for a free home energy assessment, explore program offerings, find qualified contractors, and more.

Find your Regional Clean Energy Hub

Income Eligible Households

New York State is focused on making energy efficiency and clean energy solutions available to all New Yorkers. Through NY Energy Advisor , 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-related improvements.

Find your energy savings with NY Energy Advisor