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Fix First Home › New York › NYSERDA Smart Energy and On-Bill Recovery loans

NYSERDA Smart Energy and On-Bill Recovery loans open

Administered by the New York State Energy Research and Development Authority (NYSERDA), under Green Jobs-Green New York.

NYSERDA lends homeowners $1,500 to $25,000, unsecured, over 5, 10 or 15 years, for insulation, heat pumps and solar through participating contractors. The On-Bill Recovery version is repaid on your utility bill. Addresses in lower-income or disadvantaged areas qualify automatically for 4% to 4.5%.

source · verified 26 September 2026 · amounts in US dollars

What it pays

The two loans
TermsSmart Energy LoanOn-Bill Recovery Loan
Amount$1,500 to $25,000$1,500 to $25,000
Term5, 10 or 15 years5, 10 or 15 years
RepaidMonthly by check or automatic paymentOn your electric bill
Rate in a qualifying area4.50% by check, 4.00% by automatic payment4.50%

Other rates depend on household income; NYSERDA's estimator gives them. A $150 processing fee applies to approved loans and can be financed. Loans over $13,000 must pay back within 15 years.

Who is eligible

homes
One- to four-family existing homes; a no-cost energy assessment first. Not additions, new construction or gut rehabs.
On-Bill Recovery
You own the home and are named on the account of Central Hudson, Con Edison, NYSEG, National Grid (upstate), Orange & Rockland or RG&E; PSEG Long Island customers apply through PSEG. Estimated savings must exceed the payment. The loan stays with the home when it is sold.
credit
Scores from 540, with debt-to-income limits from 40% (540 to 599) to none (720 and up).

Where the application goes

Through a participating contractor, then the credit application to NYSERDA's lender, Energy Finance Solutions.

Where the application goes
If this is youApply here
Homeownersnyserda.ny.gov
Lender1-800-361-5663