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: 88

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.

Featured Forum Discussions

BPI Anaylist

Started by Larry R Waters in BPI 47 minutes ago. 0 Replies

What causes a temperature plane in a home

Started by Energy Wise Solutions in HVAC. Last reply by Brad Cook 9 hours ago. 6 Replies

Velocity Pressure Testing

Started by Horace Douglas Hunt, Jr. in General Forum. Last reply by Horace Douglas Hunt, Jr. Apr 15. 2 Replies

Videos

  • Add Videos
  • View All

Latest Activity

Larry R Waters posted a discussion

BPI Anaylist

Industry leader in the north bay area California. Looking for experienced professionals and…See More
47 minutes ago
Larry R Waters joined Diane Chojnowski's group
Thumbnail

Job Board

This group is for posting jobs related to all aspects of the home performance industry including…See More
52 minutes ago
John Nicholas replied to Jim Fowler's discussion TREAT modeling of mid-rise apartments low heating load
"So why is tenant behavior significantly different in this building?"
1 hour ago
Jim Fowler replied to Jim Fowler's discussion TREAT modeling of mid-rise apartments low heating load
"Hi John - I'm strictly modeling the entire building, not individual units. I'm looking…"
2 hours ago
John Nicholas replied to Jim Fowler's discussion TREAT modeling of mid-rise apartments low heating load
"Where is this going?  Are you (the housing authority) trying to set the Utility Allowance?…"
6 hours ago
Brad Cook replied to Energy Wise Solutions's discussion What causes a temperature plane in a home
"It is interesting that people respond to questions like this with answers that make some…"
9 hours ago
Ed Minch replied to Energy Wise Solutions's discussion What causes a temperature plane in a home
"We see this in the mid-Atlantic with ceiling feeds on a hot air system, and usually with a…"
10 hours ago
North East Hydronic Radiant Inc posted photos
13 hours ago

Home Energy Pros

Welcome to Home Energy Pros – the unique digital community by and for those who work in the home energy performance arena.

Home Energy Pros was founded by the developers of Home Energy Saver Pro (supported by the U.S. Department of Energy) and brought to you in partnership with Home Energy magazine.  Home Energy Pros is sponsored by the Better Buildings Residential Network. Please honor our Guidelines

© 2017   Created by Lawrence Berkeley National Laboratory.   Powered by

Badges  |  Report an Issue  |  Terms of Service