The New York State Energy Research and Development Authority (NYSERDA) is set to issue $59.8 million in green bonds to support residential energy efficiency upgrades and the installation of clean energy systems, including solar panels and heat pumps.
According to documentation published on MuniOS on Wednesday, the Residential Clean Energy and Energy Efficiency Financing Green Revenue Bonds, Series 2025 A will be federally taxable but exempt from New York State taxes. The offering comprises $45 million in serial bonds maturing between 2026 and 2034, and a $14.8 million term bond scheduled to mature on 1 April 2040.
The bonds are expected to be priced on 6 May, with settlement anticipated on 21 May. Interest payments will be made semi-annually, on 1 April and 1 October, starting in April 2026.
These are limited obligations of NYSERDA, backed solely by pledged revenues and funds. Proceeds will be used to finance loans issued under the Green Jobs–Green New York programme, which supports energy efficiency improvements and the deployment of solar electric systems and air or ground source heat pumps in one-to-four family residential buildings.
NYSERDA’s mandate includes advancing new energy technologies aligned with economic, environmental, and social goals, as well as promoting energy conservation across the state.
The bonds are expected to receive an ‘A (sf)’ rating from Kroll Bond Rating Agency. Ramirez & Co. is acting as the lead manager for the transaction.
