ZeroDraft: Residential

On-Bill Program


How to Pay for Home Energy Efficiency Upgrades Without Paying a Dime

Homeowners Have Access to statewide "on-bill recovery" program allowing homeowners to pay off home improvements on monthly energy bills. It could be a model for other states.

Find the complete article by Dan Shapley at The Daily Green.

You may not know that homeowners  may  be eligible for NYSERDA's  "on-bill recovery" program that will allow homeowners to finance energy-efficiency upgrades at almost no cost. Private loans will pay for energy efficiency improvements, and homeowners will make loan payments as part of their monthly utility bills. Because the financed improvements should lower energy bills, there should be little or no increase in the average cost consumers pay.

Like many states, New York already offers subsidized home energy audits and low-cost loans to encourage homeowners to improve their home's energy efficiency. On-bill financing will expand access by setting a lower bar for participation; while only homeowners with high credit scores qualify for other loan programs, homeowners will most likely need only prove they pay their mortgage and utility bills on time to qualify for on-bill financing, according to Dave Palmer, executive director of Center for Working Families, which helped design New York's program.

"One of the biggest barriers to energy efficiency is people just don't have the upfront capital to pay for home retrofits that will save money," Palmer said. "The program is designed to provide that homeowner with capital, and they can pay that off on their utility bill."

The process starts with a home energy audit by a certified contractor, who will help homeowners define which upgrades will be cost-effective. In most cases, that will mean air sealing (caulking) work, insulation installations, heating system improvements or replacements, and solar thermal hot water system installations, according to Emmaia Gelman, the green economies strategist for Center for Working Families. But, particularly where electricity rates are higher, solar photovoltaic panels may be cost-effective, and the particular upgrades to any home will be determined by that home's energy audit.

"This program is a great idea because it negates or offsets upfront costs which often push homeowners away from otherwise logical investments in energy efficiency," said Erik Eibert, a test engineer in the Good Housekeeping Research Institute's Consumer Electronics and Engineering Lab.

Read the complete article here

Submit your information and we will contact you for your Free Home Energy Audit.

To learn more about the On-Bill Recovery Act, please visit the NYSERDA.GOV website or click here.