NYSERDA Incentives

Thu, 2012-03-22 14:53

The New York State Energy Research and Development Authority (NYSERDA) has consistently sought to improve the state’s economic, energy, and environmental vitality. The increase in utility costs have caused many households in the state to undergo energy efficient upgrades to alleviate high energy usage while creating a comfortable living space. To assist in these changes, NYSERDA is offering incentives to state residents. Below are some details regarding NYSERDA incentives to retrofit your home energy system:

Home Performance with ENERGY STAR

  • Households using power from a major utility in New York State are eligible for NYSERDA incentives. Any hired contractor, however, must be accredited through the Building Performance Institute (BPI) before performing the work.

Low Interest Loan through Energy Finance Solutions

  • Available is an unsecured loan, not a second mortgage or equity loan
  • The interest rate is set at 3.99%
  • There is a limit on the loan depending on your credit score; it can be either $15,000 or $20,000.
  • Selected terms can vary from 3, 5, 7, or 10 years.
  • Owner-occupied 1 or 2-family homes are eligible for financing

Homeowner Financing Incentives

  • NYSERDA offers a 10% rebate check for customers

Assisted Home Performance with ENERGY STAR

  • Grant that covers 50% of the energy related improvements
  • Household must meet income guidelines as noted below
  • Grant can be applied to rental property, 1-2 family properties (based on household income)
  • Grant can go towards energy improvements that meet a combined 1:1 Savings to Investment ratio
  • Can be combined with NeighborWorks® Rochester Home Improvement and Energy Loan

Download the NYSERDA Assisted Home Performance with Energy Star Application

If you'd like to take part in the Home Performance with ENERGY STAR program but are not yet BPI Certified, please visit Everblue's BPI Building Analyst training page to learn how you can achieve this certification and qualify for this incentive program.

By Peter J. Bock

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