(WBNG Binghamton) Record numbers of New Yorkers have retrofitted their homes for energy efficiency using the Green Jobs/Green NY financing program.
The program allows New York residents who qualify retrofit their homes to save money on their energy bills through low-cost financing.
The New York State Energy Research and Development Authority, or NYSERDA, says January and February set all-time monthly records for participation in the Green Jobs/Green NY program.
The program is meant to stimulate job growth and help make homes across the state more energy efficient.
Homeowners can get a free or reduced-cost comprehensive home energy audits and low interest loans to help pay for the needed improvements.
The program will be available to small commercial, not-for-profit and multifamily buildings in the coming months.
In January, more than 800 retrofits were done through the program.
Six hundred more were completed in February.
“These numbers are very encouraging,” said Francis J. Murray Jr., President and CEO of NYSERDA. “By supporting the development of a vibrant energy efficiency industry, GJGNY is already helping homeowners and businesses reduce their energy costs while also supporting Governor Cuomo’s plan to create jobs right here in New York.We look forward to even greater success once the full Outreach and Marking effort is implemented.”
Since free and reduced-cost energy audits were offered in November, NYSERDA has received 4,141 applications.
Of these, 3,294 residential customers were approved for free audits and 297 for reduced-cost audits.
NYSERDA estimates that Green Jobs/Green NY will help grow 6,000 jobs through contractors hiring trained workers to do the retrofit work.
People who make up to 200% of the Area Median Income are eligible for free energy audits.
Reduced priced energy audits are available to households with incomes up to 400 percent of the Area Median Income.
A listing of income levels by county can be found at
The goal of Green Jobs/Green NY is for people who use the low-cost loans to perform the energy efficiency work will use their savings from the upgrades to then pay back the loans.
That would allow the program to continue loaning money to others to make energy upgrades.
The unsecured loans are capped at $13,000 for a term of 5, 10 or 15 years and are offered at an initial interest rate of 3.99 percent – or 3.49 percent if the borrower signs up for automated monthly payments.
The Green Jobs-Green New York energy audit, loan and jobs training initiatives are funded with $112 million acquired by auctioning carbon emission credits through the Regional Greenhouse Gas Initiative (RGGI).
The seed money from the RGGI fund, and from an $18.6 million grant award from the U.S. Department of Energy, will be used to leverage private investment.
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