Since 2001, New York residents have completed over 39,000 energy upgrades through NYSERDA’s Home Performance with ENERGY STAR (HPwES) initiative. Approximately one third of these projects have been completed through the Assisted HPwES track, which offers large incentives to middle income households who do not qualify for the free Weatherization Assistance Program (WAP). New York’s suite of energy efficiency offerings, from free weatherization for low income residents, to free energy assessments and large energy upgrade financial incentives for middle income households, to reduced incentives for higher income homeowners represents a compelling approach to delivering energy improvements in the residential sector. These incentives are complemented by the recently-launched Green Jobs-Green New York (GJGNY) financing platform, which uses alternative underwriting criteria in an effort to qualify creditworthy households for financing and reduce the 40+ percent loan applicant rejection rate NYSERDA experienced with the Fannie Mae Energy Loan.
See more at http://middleincome.lbl.gov/.
Year of Publication
Type of Work
Clean Energy Financing Policy Brief