Frequently Asked Questions
WHAT IS NYCEEC?
NYCEEC is the premier clean energy and energy efficiency lender. Thanks to our financing solutions building owners are saving money, project developers are increasing returns, and we are all moving towards a greener energy future. Contact NYCEEC to learn how our loans can make your clean energy projects happen and take them through to successful completion: [email protected].
WHAT IS NYCEEC’S MISSION?
NYCEEC’s mission is to “Deliver financing solutions and advance markets for energy efficiency and clean energy in communities”. NYCEEC’s vision is “Energy efficiency and clean energy financing for communities to achieve scale and be accessible to all”.
WHAT ENERGY EFFICIENCY AND CLEAN ENERGY MEASURES DOES NYCEEC FINANCE?
NYCEEC finances a wide range of energy efficiency and clean energy technologies, including:
- Energy Efficiency
- Renewables
- Cogeneration
- Storage
- Fuel Conversions
- High Performance/Passive House Buildings
WHAT BUILDING TYPES DOES NYCEEC FINANCE?
We can help complete your project at any property type, including:
- Multifamily
- Commercial and Industrial
- Institutional
WHAT GEOGRAPHIC AREA DOES NYCEEC PROVIDE LOANS?
NYCEEC will finance energy efficiency and clean energy projects in buildings located in New York, Connecticut, Massachusetts, Delaware, New Jersey, Maryland, Pennsylvania, Rhode Island, and Washington D.C.
WHAT LOAN PRODUCTS DOES NYCEEC OFFER?
NYCEEC offers direct loans to contractors, project developers, and building owners for both construction and permanent financing of energy efficiency and clean energy projects. Contact us for more information about other NYCEEC products, such as green construction, energy services agreements, power purchase agreements, or PACE loans.
WHAT ARE NYCEEC’S TYPICAL TERMS?
NYCEEC provides loans up to 15 years. Typically loan terms range from 5-7 years for basic energy efficiency projects, 7-10 years for ESA and PPA structures and up to 15 years for solar PV. Please refer to NYCEEC’s Current Rates and Terms (insert link) for more details.
IS THERE A MINIMUM OR MAXIMUM LOAN SIZE?
NYCEEC can commit to a minimum of $250,000 up to $2 million per project. However, NYCEEC works with a number of financing partners to finance transactions larger than $2 million. If you are working on a larger project, please contact NYCEEC for more information. Please refer to NYCEEC’s Current Rates and Terms (insert link) for more details.
WHAT INFORMATION DOES NYCEEC REQUIRE?
NYCEEC requires information about the borrower’s financial position and the project cost and scope. These usually include borrower financial statements, organizational documents and engineering reports and/or contractor proposals.
IS NYCEEC NYC’s COMMERCIAL PACE (C-PACE) ADMINISTRATOR?
The New York City Council approved C-PACE financing as part of the City’s Climate Mobilization Act, to mitigate the significant effects of greenhouse gas emissions from buildings. PACE will help New York City meet its goal of reducing greenhouse gas emissions by 80% by the year 2050.
The PACE program is sponsored by the Mayor’s Office of Sustainability (MOS) and administered by NYCEEC, in collaboration with the New York City Department of Finance.
HOW DO I GET STARTED?
Contact NYCEEC today at [email protected] to discuss financing options for your next energy efficiency or clean energy project.