Extending Energy Efficiency Financing To Underserved Households

Lawrence Berkeley National Laboratory just released a new Policy Brief on NYSERDA’s Green Jobs-Green New York Program.  It focuses on their recent effort to extend EE financing to underserved households. Prior to the launch of GJGNY, NYSERDA used Fannie Mae Energy Loans to provide program participants with access to financing to overcome the upfront cost barrier of energy upgrades.  The underwriting standards for this unsecured loan product, including a minimum decision credit score of 640,  made financing inaccessible to many New York households—in recent years, approximately 30 percent of loan applications were rejected.  The new GJGNY financing platform is an effort to reduce this rejection rate by using alternative underwriting criteria to qualify creditworthy households for financing. This program is still in a very early stage, but may be of interest to this group.


Full text attached and available online here:
http://eetd.lbl.gov/EAP/EMP/ee-pubs.html

Views: 83

Tags: financing

Comment

You need to be a member of Home Energy Pros to add comments!

Join Home Energy Pros

Comment by Jill Cliburn on February 2, 2011 at 11:13am
Thanks, Merrian, for a(nother) excellent report. I'd be interested if you and/or readers had any updated assessments of on-bill utility financing-- especially in communities that had previously hoped to use PACE.
Comment by Mark Zimring on January 28, 2011 at 9:21am
NYSERDA announced this week that it is raising the maximum Debt-to-Income (DTI) ratio from 50 to 55%.  This adjustment was made because a significant number of loan applicants were being rejected because their DTI's fell just a few percentage points above 50%.  NYSERDA's move is a good example of how monitoring incoming data in real-time allows programs to rapidly respond to enhance program efficacy.

Videos

  • Add Videos
  • View All

Twitter

Latest Activity

Profile IconAlfonso Scott, Susan Benford, HomeWiz and 2 more joined Home Energy Pros
11 hours ago
Hannah Wood added a discussion to the group Building Performance Institute (BPI)
Thumbnail

Healthy Home Evaluator (HHE) certification + recorded webinar

Thanks to those of you who joined BPI's webinar on the Healthy Home Evaluator certification…See More
11 hours ago
Michelle Usher posted a blog post

Addison Homes Wins Pinnacle Award for Best Achievement in Energy Efficiency

Addison Homes was amongst the home building industry’s best and brightest honored with a 2016…See More
11 hours ago
Eric Kjelshus replied to Beverly Lerch's discussion Fireplace drafts
"A brick chimney will take some 70,000 BTU's to heat up to draft on a fireplace.   A…"
23 hours ago
Ed Voytovich replied to Beverly Lerch's discussion Fireplace drafts
"Our solution was to install a Lopi Answer wood burning insert that vents directly through a metal…"
yesterday
Jim Gunshinan's blog post was featured

A Healthy Home and a Healthy Bottom Line

There has been a lot of interest of late in the weatherization and broader home performance…See More
Monday
Jonathan Beers commented on Home Energy Magazine's blog post Natural Gas is Becoming Less Attractive
"The carbon intensity of electricity use (lbs. of CO2/MWh) varies a lot from region to region. For…"
Monday
Diane Chojnowski posted events
Monday

© 2016   Created by Lawrence Berkeley National Laboratory.   Powered by

Badges  |  Report an Issue  |  Terms of Service