How to Pay
YSG is participating in the NY-Sun to provide financial incentives for installing a solar electric system. 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.
Energize NY Finance offers low-cost, long-term financing, primarily for small businesses, for up to the full cost of energy improvements that reduce energy consumption or generate renewable energy. The Program uses an innovative form of financing called Property Assessed Clean Energy (PACE) financing. Unlike traditional financing, Energize NY’s PACE financing focuses on the project’s potential for energy savings and is repaid through an annual tax charge on the property (like water or sewer charges) over the term of the financing. If the property is sold, the energy savings and financing automatically transfers to the new owner. http://commercial.energizeny.org/energize-ny-finance
On-Bill Financing/Low-interest loans
NYSERDA also offers low-interest loans for residential and small business customers. YSG Solar can help you apply. For residential customers (with existing homes of 4 units or less), Smart Energy Loans or On-Bill Recovery Loans are available for up to $13,000, or up to $25,000 with higher cost-effectiveness standards, and repayment periods of 5, 10, or 15 years. Smart Energy Loans are a more traditional loan that offers affordable interest rates and simple repayment options. On-Bill Recovery Loans provide the convenience of paying for energy improvements on your utility bill. Apply online or download an application at energyfinancesolutions.com For small business and not-for-profit organizations, Participation Loans of up to $100,000 at a below market interest rate and On-Bill Recovery loans of up to $50,000 at 2.5% interest are available, with repayment periods of up to 10 years. YSG Solar can submit a Request for Financing Form to NYSERDA on your behalf. Customers whose solar electric projects have been approved for financing can then take the NYSERDA approval letter to a participating lender to apply for financing. Visit nyserda.ny.gov/small-commercial-financing for more information.
Community Solar Farm
The shared renewables program extends New York’s net energy metering (NEM) policy to centrally-located solar arrays (referred to as “community or shared solar farms/gardens) so that both rooftop and community solar arrays now qualify for retail rate reimbursement. Each member’s account will be credited for the full amount of energy generated. Members may be residential or commercial accounts and are eligible for special NY-Sun program provisions. Members can own no more of the output than their own yearly use.