Program/s: EmPower+, Residential Energy Assessments, Comfort Home To: Participating Contractors Summary: Monthly Contractor Update Contact with Questions:[email protected]
NYSERDA Single Family Programs Update Friday, October 4, 2024 8:30 a.m. – 10:00 a.m. ET Webinar number: 2534 351 3591 Event password: Energy 1
All attendees must register prior to joining the event. This process will allow you to add the meeting to your calendar and provides each individual with a custom link to join the meeting. Please do not share your link with anyone. To register, please click here.
All webinars are recorded and links to the recordings are available on the Contractor Support site.
To: Residential Contractors From: Residential Financing Team Programs: EmPower+, Comfort Home, Residential Energy Assessment Program Summary: GJGNY Residential Financing – Interest Rate Changes Questions: [email protected]
Dear Participating Contractors:
NYSERDA will be making the following updates to the GJGNY Financing Program’s interest rates to support the program’s objectives of increasing efficiency, reducing cost, and making GJGNY residential loans more accessible to low-income households and disadvantaged communities.
1) Change eligibility for the lower rates to only customers that meet the New York State Disadvantaged Community Criteria or reside in a US Census Block Group identified as where 50% or more of the population of the group has a household income of less than or equal to 80% Area Median Income (AMI) (“Designated Areas”). Customers living outside these Designated Areas, and who can provide household income documentation to show their household income is less than or equal to 80% AMI, would also be eligible for the lower rates. Customers not in a Designated Area or unable to show household income of lower or equal to 80% AMI would only be eligible for the higher interest rates. NYSERDA will update the web based geographic eligibility map to reflect this change. We anticipate this update to be completed by November 1, 2024.
2) Recalibrate interest rates to better reflect market conditions. Interest rates for customers within a Designated Area or with household income of less than or equal to 80% AMI will increase from 3.99% to 4.5%, with the option of a 0.5% discount for Smart Energy Loans (SEL) when using automatic payments (ACH). Similarly, for customers outside of Designated Area or with household income greater than 80% AMI, interest rates will increase from 7.49% to 8.00%, with the option of a 0.5% discount for SEL when using ACH.
3) Remove the 0.5% interest rate discount for On-Bill Recovery (OBR) loans. OBR loans have several fees associated with filing documents and title searches, which up until now had been paid by the Program. To date, the Program has incurred fee expenses of over $6.7 million. Removing the 0.5% discount will allow GJGNY to offset some of these expenses and fund additional loans.
These changes will come into effect on November 1, 2024, and will apply to all loan applications received on or after this date.
New Rates Effective for Applications Received On or After November 1, 2024
Program: EmPower+ and REA To: EmPower+ and REA Contractors Summary: NYHEP Updates Contact with Questions: If you experience any issues reaching the contractor support team by phone, please send an email to [email protected]
All Users:
Display a warning box with a 10-minute countdown prior to automatically being logged out due to inactivity.
Single sign-on enabled. Users logged into Salesforce can also log into NYHEP without entering credentials.
Search feature enhancement. Users may use the search bar to locate a project using Enrollment Number, Reference Number, or Customer Last Name
Project Acceptance Extension. System configuration aligned with extension policy announced in December 2023
“Application Processor” label changed to “Community Hub”
Forgot Your Password” dialog box updated to ask for “user ID”
Numerous back-end data exchange enhancements, other bug fixes, and performance improvements
Program: EmPower+ and REA To: EmPower+ and REA Contractors Summary: NYHEP Updates Contact with Questions: If you experience any issues reaching the contractor support team by phone, please send an email to [email protected]
The following NYHEP changes will go live April 25. Knowledge Base articles with be updated to reflect these changes.
All Users:
Display a warning box with a 10-minute countdown prior to automatically being logged out due to inactivity.
Single sign-on enabled. Users logged into Salesforce can also log into NYHEP without entering credentials.
Search feature enhancement. Users may use the search bar to locate a project using Enrollment Number, Reference Number, or Customer Last Name
Project Acceptance Extension. System configuration aligned with extension policy announced in December 2023
“Application Processor” label changed to “Community Hub”
Forgot Your Password” dialog box updated to ask for “user ID”
Numerous back-end data exchange enhancements, other bug fixes, and performance improvements
Programs: EmPower+, Residential Energy Assessments, Comfort Home To: Contractors Summary: NYHEP Updates Contact with Questions:If there are any questions on this, please reach out to contractor support at 1-800-284-9069.
Thank you for your feedback for the NY Home Energy Portal (NYHEP). NYSERDA and our developers are working to make the requested improvements and release enhancements on a monthly cadence. NYHEP will be updated on March 14, 2024, with the following changes:
All users: Ability to choose multiple document types when uploading a file
NYSERDA/Implementation users: Enhanced Implementation/Contractor profile features and management tools
Numerous back-end data exchange enhancements to streamline reporting and other bug fixes.