Friends of NYCEEC,

NYCEEC’s 2022 fiscal year ended earlier this summer. Against the backdrop of a continuing pandemic and economic volatility, NYCEEC has pursued its mission: to deliver financing solutions and advance markets for energy efficiency and clean energy in buildings.

Fiscal Year 2022 highlights include:

• Investing in Impact: Through financing, advising, and administering transactions supporting clean energy deployment, NYCEEC helped mobilize $112 million of capital in FY2022, reaching $433 million since inception and on track to reach our $1 billion goal by 2025. NYCEEC continued to increase its commitment to LMI communities in FY 2022, with affordable units accounting for 93% of all units in our financed projects in the fiscal year. We also deployed capital in FY 2022 to support high-performance building projects, including all-electric affordable housing.

• Investing in Programs: NYCEEC continues to work with New York City’s government to develop a C-PACE program that supports the objectives of the Climate Mobilization Act. In addition, we continued to work with NYSERDA and HPD to expand NYCEEC’s pre-development lending in disadvantaged communities. NYCEEC has made 46 loans as part of its predevelopment program with HPD to date.

• Investing in NYCEEC: NYCEEC closed a landmark financing with NY Green Bank (the first under its RFP 19 for lenders to disadvantaged communities) and hired 5 individuals to increase its capacity for impact. NYCEEC added two new Board members to position us for future growth.
  NYCEEC starts Fiscal Year 2023 with a strong pipeline of transactions and a renewed sense of opportunity. The recent passage of the Inflation Reduction Act is a significant milestone for the green lending community. We at NYCEEC look forward to working with an expanded map of green lenders.

Despite these accomplishments and opportunities, the challenges of supporting a just and equitable clean energy transition remain significant. We truly appreciate the assistance of all of our partners and supporters. With your continued support, we hope to achieve our vision: energy efficiency and clean energy financing for buildings to achieve scale and be accessible to all.

Thank you for your continued support of our work and your help in enabling us to meet our important goals. We look forward to continuing our work with you in Fiscal Year 2023!

On behalf of the NYCEEC team,