Kasselman Solar & NYSERDA Launch Affordable Solar

State officials said there’s never been a better time for 
middle and low income families to invest in solar energy. 
Beginning this month, the state is raising interest rates 
on its solar loan program for high income borrowers in order 
to expand access to those earning less. 
Terry Stackhouse reports for Time Warner Cable News. 

GREENVILLE, N.Y - A ‘no brainer’, that’s how Lonnie Avery describes his 
decision to invest in solar panels for his Greenville home.    

“Because of the low interest loans and purchasing 
solar panels that are going to save me an incredible 
amount of money,” said Lonnie Avery, investing in 
solar panels.

Lonnie secured a loan through the New York State 
Energy Research and Development Authority’s solar 
incentive program New York Sun at a rate of 
3.49 percent.

For the last 2.5 years, all New Yorkers have been able to 
borrow for solar power projects at a rate of 3.49 
percent.

Beginning this month, only households with an 
income less than 80-percent of the median income 
in their area will be able to take advantage that interest rate.

Those earning above 80 percent will now pay 4.99 
percent interest, up to 7.99 percent for homes 
earning 120 percent of the median local income.

 “We are continuing our low interest loans for low 
interest households to have them have access so 
they can participate in this program,” 
said John Rhodes, NYSERDA President.

NYSERDA President John Rhodes said due to the 
success of solar, banks and lenders are clamoring to 
the solar market and rate change ensures middle 
and low income families will be able afford solar 
installations in the future.

“It is good for the environment, it is good for the 
clean energy economy, it creates jobs in the 
neighborhood,” said Rhodes.

“We’re able to offer an opportunity to for New Yorkers that were 
never able to utilize the solar incentives 
that were available before an opportunity to save right away and
 increase and put value into their homes,” 
said Scott Rakowski of Kasselman Solar.

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