Loan — NYSERDA / EFS
NYSERDA / EFS is a specialized loan tied to the Con Edison Clean Heat program. It’s the right call for decommissioning jobs where the homeowner has low credit or where the deal size fits within the cap.
The hard cap
Section titled “The hard cap”NYSERDA / EFS finances up to $13,000 after rebate. This is a hard cap. The total job size can exceed $13K because the rebate stacks on top — but the financed portion cannot exceed $13K.
Example: single-family non-DAC
Section titled “Example: single-family non-DAC”- $13,000 financed via NYSERDA
- $8,000 Clean Heat rebate
- = $21,000 total job size
Example: single-family DAC
Section titled “Example: single-family DAC”- $13,000 financed via NYSERDA
- $10,000 DAC-enhanced rebate
- = $23,000 total job size
Example: 2-family non-DAC
Section titled “Example: 2-family non-DAC”- $13,000 financed via NYSERDA
- $4,000 × 2 meters = $8,000 rebate
- = $21,000 total job size
Exact rebate amounts depend on:
- Number of meters (see Home type & meter rules)
- DAC status
- Other home factors
Per-property, not per-floor
Section titled “Per-property, not per-floor”The $13,000 NYSERDA cap is per property, not per floor. A two-family home gets one $13K cap, not two. A three-family home still gets one $13K cap.
This is why NYSERDA almost never works on three-family homes. The total project cost is too high to fit a 3-family install inside $13K financed (even after stacked rebates), so reps usually need to combine NYSERDA with other financing — see hybrid financing below.
Hybrid financing — combining NYSERDA with other sources
Section titled “Hybrid financing — combining NYSERDA with other sources”If a deal is decommissioning but exceeds the $13K NYSERDA cap, you can stack NYSERDA with other financing. NYSERDA covers up to $13K, and you fill the gap with cash, Wisetack, or another loan.
Hybrid example: $16K total financing needed
Section titled “Hybrid example: $16K total financing needed”| Source | Amount | Notes |
|---|---|---|
| Cash deposit | $3,000 | 20% deposit at point of sale |
| Wisetack (gap loan) | $0 | Not needed in this example |
| NYSERDA | $13,000 | Hits the cap exactly |
| Total | $16,000 |
Hybrid example: $18K total financing needed
Section titled “Hybrid example: $18K total financing needed”| Source | Amount | Notes |
|---|---|---|
| Cash deposit | $3,000 | 20% deposit |
| Wisetack | $2,000 | Closes the gap |
| NYSERDA | $13,000 | Hits the cap |
| Total | $18,000 |
The flexibility of hybrid financing lets you sell low-credit homeowners with deals that would otherwise be too big for NYSERDA alone. See Wisetack for the gap-loan workflow.
Decommissioning is required
Section titled “Decommissioning is required”NYSERDA will not approve a job that isn’t going through Clean Heat. Clean Heat = decommissioning. Non-decommissioning installs cannot use NYSERDA — use Green Sky or Lease instead.
This is a hard rule, not a guideline. If the math works on $13K but the job isn’t decommissioning, NYSERDA still rejects it.
Renter rule: who can sign
Section titled “Renter rule: who can sign”| Scenario | Can use NYSERDA? |
|---|---|
| Homeowner lives in the home | Yes — homeowner signs |
| Renter (no homeowner permission) | No — renters cannot authorize construction work on someone else’s property |
| Renter with homeowner permission | Yes — but the homeowner signs, not the renter. Homeowner and renter can have any back-end arrangement on who pays the bill. Sunny doesn’t get involved in that. |
So if you’re working with a renter who’s interested in a heat pump install, the path forward is: get the homeowner on the call, get them to sign, then the renter and homeowner figure out the bill payment between themselves.
Why DAC doesn’t help on the cap
Section titled “Why DAC doesn’t help on the cap”NYSERDA caps financing at $13,000 regardless of DAC status. DAC homes get higher rebates (which means higher total project size), but the financed portion stays capped.
The only way to push past $13K financed via NYSERDA is to use 35 SEER units instead of standard 20-21 SEER units. But:
- 35 SEER units are expensive
- Profit ratio is lower than standard 20-21 SEER units
- Generally not worth it
Approval profile
Section titled “Approval profile”| Feature | Detail |
|---|---|
| Credit threshold | Approves very low credit scores (down to ~550) |
| Term | 15 years |
| APR range | 3.49% – 6.99% (typically lower end) |
| Application | None — homeowner self-serves on the website, selects Sunny HVAC as dealer |
When to lead with NYSERDA / EFS
Section titled “When to lead with NYSERDA / EFS”- Decommissioning job, AND
- Low-credit homeowner (or just price-sensitive on APR), AND
- Deal size fits the $13K cap (after rebate) — or you’re combining with hybrid financing
When NOT to use NYSERDA
Section titled “When NOT to use NYSERDA”- Non-decommissioning install — not eligible
- Three-family or larger building (cap rarely fits)
- Homeowner has strong credit and would benefit from better APR on Green Sky
- Renter without homeowner involvement
Process
Section titled “Process”- Confirm the job is decommissioning
- Confirm deal size + rebate math in the in-app calculator
- Direct homeowner to the NYSERDA website
- Homeowner selects Sunny HVAC as the dealer
- Approval flows through