Revolving Loan Fund

The New York State Energy Research and Development Authority (NYSERDA) is offering an open‑enrollment revolving loan fund, funded by a DOE Energy Efficiency Revolving Loan Fund grant, to provide low‑interest loans to low‑to‑moderate‑income single‑family homeowners for energy‑efficiency retrofits. Qualified contractors (Qualified Applicants) may reserve up to $400,000 of loan funds to finance eligible projects, with each loan ranging from $1,500 to $25,000, a fixed 2.50 % interest rate (0.5 % discount for ACH payments), and terms of 5, 10, or 15 years. The program requires contractors to have a proven track record with PSEG‑Long Island Home Comfort/Home Performance and the Green Jobs‑Green New York financing program, and to conduct Home Performance Assessments, qualified energy audits, and install pre‑qualified measures such as insulation, air sealing, smart thermostats, efficient lighting, heat‑pump HVAC systems, and heat‑pump water heaters. • Eligible borrowers are LMI single‑family homeowners located in NY designated disadvantaged areas or with income ≤ 80 % AMI. • Contractors must submit a Participation Agreement, maintain required insurance, provide a 1‑year warranty, and retain records for 10 years. • Applications are due by 31 Dec 2030 3 PM ET; awards are expected within ~2 weeks of submission. • Reserved funds are valid for one year; unused portions revert to the pool. • No advance‑payment; funds are disbursed to borrowers after a Certificate of Completion is submitted.