New York state’s clean energy market presents an opportunity for financial institutions with new and enhanced clean energy lending products.
Credit unions can tap new revenue streams, reach new customers and build greener communities with clean energy financing backed by New York state’s Loan Loss Reserve Program coverage.
NYSERDA’s Loan Loss Reserve Program makes it easier to build out clean energy financing by lowering your lending risk, so you can serve new customers or expand your offerings for current customers.
Tap into a growing market. NYSERDA predicts residential demand for energy efficiency and solar loans statewide will be 20% higher in 2022 than 2019.
Lenders play a key role. New Yorkers want solutions like solar, electric vehicles, heat pumps and weatherization. Wider access to clean energy financing can put these projects within reach — and help New York state meet its climate goals.
Mitigate risk. NYSERDA provides loan loss protection in the form of a credit enhancement. Recover up to 90% of qualifying eligible losses on the remaining loan balance, at no cost to you or your members.