Financing Options for NY-Sun Incentive Program
NY-Sun provides financial incentives for installing a solar electric system through a NYSERDA participating contractor. A properly sized and installed system can provide a significant percentage of your electric needs. In addition to the existing program incentives, the NY-Sun Incentive Program offers low-interest rate financing options, through Green Jobs – Green New York, for residential buildings with four or fewer dwelling units and commercial buildings that are used by small businesses or not-for-profit organizations.
For residential customers, loans are available for up to $13,000, or up to $25,000 with higher cost-effectiveness standards, with repayment periods of 5, 10, or 15 years.
Small Business and Not-For-Profit Organizations
For small business and not-for-profit organizations, Participation Loans of up to $100,000 at half the market interest rate and On-Bill Recovery loans of up to $50,000 at 3% interest are available, with repayment periods of up to 10 years.