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Deal Spotlight

Financing Multifamily Solar
to Support Local Law 97 Compliance

0 kWh
Projected Annual Energy Production
0 MT CO2e
Lifetime GHG Savings
$ 0
Annual Cost Savings

The Building

Building type
Multifamily (rental)

Building size
1 Building
41,920 Square Feet
54 Units

Queens, NY

NYCEEC Loan Product
Direct Loan

Project type
Solar PV

Solar PV array
roof insulation

10 Years

Closing Date
October 2022

The Project

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




Borrower Equity




Annual Savings


The Results

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