NYSERDA Smart Energy Loan
NYSERDA is a state agency that helps homeowners make their homes more energy efficient and comfortable while making our state cleaner. Triple H Contracting works with this New York State finance option to help eligible Nassau and Suffolk County homeowners improve their home’s comfort with a Smart Energy Loan. NYSERDA’s home energy loans are a great way to fund your home performance upgrades.
What Are the Features of a Smart Energy Loan?
NYSERDA’s Smart Energy Loan is one of two options* for low-interest financing for approved energy efficiency home improvements. A Smart Energy Loan is set up like a traditional loan, where customers pay by check or electronic transfer to a loan servicer. Here are the details:
- Interest rates are variable and subject to the homeowner’s credit score and history.
- A Smart Energy Loan is not transferable if you sell your home, and responsibility remains with the homeowner to repay the loan.
- Loan are available for amounts from $1,500 to $25,000.
- Loan terms are available at 5, 10 or 15 years.
- *NYSERDA’s other financing option is their On-Bill Recovery Loan.
When is a Smart Energy Loan a Good Choice?
Smart Loan applicants may be eligible for a 50% subsidy (up to $4000) on qualifying energy efficiency upgrades like a furnace, boiler or on-demand water heater. Homeowners who are not PSEG Long Island customers may qualify for a NYSERDA Smart Energy loan and subsidy in you are included in one of these customer categories:
- Municipality utility (Freeport, Rockville Center & Greenport) customers are eligible for a NYSERDA 50% subsidy up to $4000 and a loan
- Homes with natural gas heat without central air conditioning are eligible for a NYSERDA loan or possibly National Grid low-income program
- Homes looking to do an oil to gas conversion are eligible for a NYSERDA loan or a National Grid low-income program
We can help you get the best value in home performance upgrades, including the right financing. Be sure and take advantage of our No-Cost Energy Audit to identify how efficient your home is and take the first step in saving money and being more comfortable. Contact us today to get started!