On-bill recovery financing: Simple steps
to saving energy and money
Making energy-saving improvements can seem expensive, but now there’s a budget-friendly way to unwaste your home and upgrade its value. With the new On-Bill Recovery Financing program, the amount of your monthly repayment is pegged to your projected energy savings.
Available free to most New Yorkers and performed by a Building Performance Institute (BPI) accredited Home Performance with ENERGY STAR® contractor. In addition to measuring your home’s energy performance, your Home Performance contractor will perform important health and safety tests to ensure major combustion appliances (furnace, boiler, water heater, stove) are operating properly.
A Home Performance contractor will do the work and install the upgrades that you choose. There are a number of approved upgrades you could make, like replacing a water heater or furnace, insulating your attic, weatherizing your home and more.
The cost of your upgrade is added to your monthly utility bill and spread over 5, 10 or 15 years and the monthly cost is pegged to your projected savings. If you decide to sell your home, the remaining monthly installments will be billed to the new utility account holder. And you don’t pay anything up-front.
Customers of the following utilities are eligible for the On-Bill Recovery Financing Program: Central Hudson Gas and Electric, Con Edison, Long Island Power Authority, New York State Electric and Gas Corporation, National Grid (upstate NY customers only), Orange and Rockland, and Rochester Gas and Electric Corporation.