Financing Multifamily Solar
to Support Local Law 97 Compliance
Projected Annual Energy Production
0 MT CO2e
Lifetime GHG Savings
Annual Cost Savings
41,920 Square Feet
NYCEEC Loan Product
Solar PV array
NYCEEC provided financing for the installation of a 32.4 kW solar energy system installation and a roof overlay with insulation improvements at a multifamily rental building in Forest Hills, Queens. The project represents an investment toward compliance with New York City’s Local Law 97 and will generate renewable power while completing necessary ancillary work with additional efficiency benefits. By timing the solar system installation with the roof work, the borrower capitalized on an opportunity to efficiently realize energy cost savings and minimize disruptions.
Total Project cost
NYCEEC’s loan will partially fund the roof replacement and installation of the solar array, providing energy cost savings for the building and supporting the greening of multifamily building stock in NYC.
Note: Projected energy savings based on source savings