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: 77

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 IconMichael Capobianco, Lois Bower-Bjornson, Tim Grant and 1 more joined Home Energy Pros
3 hours ago
Evan Mills commented on Tom White's video
Thumbnail

The Impact of Green Buildings on Cognitive Function

"Good to see work like this going on.  Findings seem qualitatively consistent with what…"
11 hours ago
Keith Burrows's blog post was featured

What Happens When Home Performance is Made Visible?

“I don’t know” or “probably not” are the most common responses I hear to the question, “is your…See More
17 hours ago
Sarah Holloway posted a video

Don't Lose Your Marbles. Use DASH!

Are you a growing energy rating business? DASH is everything you need to operate your company.
17 hours ago
Rosie Smith replied to edward knight's discussion Minneapolis duct blaster for sale in the group Energy Auditing Equipment for Sale, Trade or to Purchase
"Hi Edward...is this equipment still available?? Thanks, Rosie Smith Fresno,…"
Wednesday
Rosie Smith joined allen p tanner's group
Thumbnail

Energy Auditing Equipment for Sale, Trade or to Purchase

Discuss the pros and cons of the equipment you are interested in prior to purchase. Post equipment…See More
Wednesday
Jim Gunshinan liked Tom White's discussion Home Energy Reader Survey
Tuesday
Tom White posted a discussion

Home Energy Reader Survey

Home Energy wants to serve you better.  Please …See More
Monday

© 2016   Created by Lawrence Berkeley National Laboratory.   Powered by

Badges  |  Report an Issue  |  Terms of Service