Record Numbers of New Yorkers Retrofit Homes for Energy Efficiency Using Green Jobs/Green NY Free or Reduced-Cost Energy Audit/Low-Cost Financing Prog

Record Numbers of New Yorkers Retrofit Homes for Energy Efficiency Using Green Jobs/Green NY Free or Reduced-Cost Energy Audit/Low-Cost Financing Program The New York State Energy Research and Development Authority (NYSERDA) announced today that the numbers of New York State homeowners who completed energy efficiency retrofits reached all-time monthly records in both January and February 2011, through Green Jobs/Green NY.
Created by the New York State Legislature and launched Nov. 15, 2010, Green Jobs/Green NY is expected to generate jobs in the state by stimulating investment in energy efficiency improvements for residential homes and businesses. It currently provides homeowners with free or reduced-cost comprehensive home assessments, also referred to as energy audits, and low-interest loans to finance these improvements. The program will be available to small commercial, not-for-profit and multifamily buildings in the coming months.
For homeowners, energy efficiency audits and improvements take place through NYSERDA's Home Performance with ENERGY STAR(r) program. In January alone, Home Performance with ENERGY STAR completed more than 800 retrofits, an all-time record for the program. February followed with more than 600 retrofits, an all-time record for that month.
"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."

Other Green Jobs/Green NY highlights:

* 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.

* As of end of February, 420 applications have been approved for Green Jobs/ Green NY low-cost financing with 96 loans closed, 87 loans approved and awaiting closing, and an additional 237 loans in process, for a total of approximately $3.3 million in capital.

* Contract negotiations are underway for training new entrants to the workforce and displaced workers for jobs in New York State's clean-energy industry. Ultimately, Green Jobs/Green NY will fund training for 6,000 workers.

Free energy audits are being provided to individuals with incomes up to 200 percent of the Area Median Income, and 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: http://www.getenergysmart.org/Files/HomePerformance/gjgny_area_median_income.pdf.pdf.

Certain outreach, training and enrollment efforts are subject to a competitive procurement process available to community based-organizations.

Through Green Jobs/Green NY, the state has established a revolving loan fund for building owners who will be able to pay back loans from the savings on their energy bills. NYSERDA launched the loan program for residential homeowners, and will soon follow with a loan program for small businesses, not-for-profits, and multifamily buildings. The unsecured residential 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.

NYSERDA offers innovative programs, technical expertise and funding to help consumers increase energy efficiency and save money while helping businesses create clean energy solutions. NYSERDA's professionals help New Yorkers reduce energy consumption, increase the use of renewable energy, protect our environment and create clean energy jobs. A public benefit corporation, NYSERDA has been developing partnerships to advance innovative energy solutions in NY since 1975.