New York Offers $10 Million in Incentives for Renewable Energy and Energy Efficiency Efforts

October 16, 2007

The New York State Energy Research and Development Authority (NYSERDA) has announced that it is making $10 million available through the New York Energy Smartsm Loan Fund to support energy efficiency improvements, new construction energy measures, and manufacturing of renewable, clean, and energy-efficient products in the state.

The loans are available for energy efficiency and renewable energy improvements to existing single-family homes, multi-family buildings, and commercial buildings; and for construction of new multi-family and commercial buildings. In addition, loans are available for manufacturing processes of products that generate or support the production of renewable or clean electricity, energy-efficiency technologies, and electric storage technologies for grid-connected applications. Residential home loans of up to $20,000, multi-family building loans ranging between $1 million and $2.5 million, and commercial building loans of up to $1.5 million will be offered at interest rates up to 4 percent less than the normal market rate.

To qualify for the New York Energy Smartsm Loan Fund, all improvements must be made to a facility that pays the system benefits charge to five designated utilities or that pays the monthly rate adjustment to Con Edison Firm Gas.

For more information, see the program opportunity notice (PON) 1060 on the NYSERDA Funding Opportunities Web page, and the New York Energy Smartsm Loan Fund Web page.

To read more about renewable energy and energy efficiency projects in New York, see: