NY-Sun Loan Program (New York)

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Last modified on February 12, 2015.

Financial Incentive Program

Place New York

Name NY-Sun Loan Program
Incentive Type State Loan Program
Applicable Sector Commercial, Residential, Nonprofit
Eligible Technologies Solar Thermal Process Heat, Photovoltaics
Active Incentive Yes

Implementing Sector State/Territory
Energy Category Renewable Energy Incentive Programs
Amount Residential

Maximum: Up to 13,000 (or up to 25,000 with higher cost-effective standards)
Minimum : 3,000
Small Business and Not-For-Profit
Maximum: Up to 100,000 or On-Bill recovery loan up to 50,000
Maximum: Up to 100,000 or On-Bill recovery loan up to 50,000

Terms Loan term of 5, 10, of 15 years and must be within the expected useful life of the product

PV installations should be performed by a participating PON 2112 contractor.

Website http://ny-sun.ny.gov/Get-Solar/NY-Sun-Financing.aspx
Date added to DSIRE 2014-09-03
Last DSIRE Review 2014-09-03

References DSIREDatabase of State Incentives for Renewables and Efficiency[1]


NOTE: Beginning from October 17, 2014, NY-Sun loan program has added Solar Thermal as an eligible resource for financing. Financing structure for Solar Thermal equipment are as same as offered for Solar PV systems. Additional financial incentives for Solar Thermal systems can be accessed here.

NY-Sun loan program is part of broader NY-Sun Initiative program to accelerate the use of solar PV across the State. In addition to standard block-rebate incentive, NY-Sun Initiative also provides State sponsored low-interest standard and on-bill financing options for eligible customers. The PV installations up to 200 kW should be performed by a participating Solar Electric Installer. List of participating installers is available here.


Residential customers can quality up to $13,000, or up to $25,000 with higher cost-effectiveness standards. The repayment periods can be 5, 10, or 15 years and should be within the expected life of the installation. Residential customers can choose between a standard loan or a On-Bill financing loan. These loans are provided by the Energy Finance Solutions (EFS) on behalf of NYSERDA.

Residential Smart Energy Loan

This loan provides a standard loan at interest rate* of 3.99%, or 3.49% if repaid through automatic bank withdrawals. In case of transfer or sale of the property, the customer remains responsible for the outstanding balance of the loan which cannot be assigned.

Residential On-Bill Recovery Loan

This loan provides the convenience of repayment through a regular charge on the customer’s utility bill. The payments appear as a separate item on the utility bill and is financed at a current interest rate* of 3.49%. The monthly payments may not exceed the estimated cost savings from the improvements over the loan term. In case of sale of the property, the payments can be transferable.

Small Business and Not-For-Profit Organizations

Small business and Not-For-Profit organizations can obtain low interest standard loan up to $100,000, or On-Bill Recovery loans up to $50,000. In addition to PV installation, the funds may also be used to finance certain eligible energy efficiency improvements in the building. More information about financing options for Small business and Not-for-Profit customers can be accessed here.

  • Interest rates are subject to change

Incentive Contact

Department Energy Finance Solutions

Phone (800) 361-5663


Authorities (Please contact the if there are any file problems.)

Authority 1: [file:///C:/Users/abshrest/Downloads/GJGNY-Act-2009%20(1).pdf Green Jobs- Green New York]

Date Enacted 2009-10-09

  • Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.[1]


  1. 1.0 1.1  "Database of State Incentives for Renewables and Efficiency"