Frequently Asked Questions
WHAT IS NYCEEC?
NYCEEC is the premier non-profit clean energy and energy efficiency lender serving the Northeast and Mid-Atlantic. Thanks to our financing solutions, building owners are saving money, project developers are increasing returns, and we are all moving towards a cleaner 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
- Storage
- Fuel Conversions
- High Performance/Passive House Buildings
WHAT BUILDING TYPES DOES NYCEEC FINANCE?
We finance clean energy infrastructure projects at a range of property types, including:
- Multifamily
- Commercial and Industrial
- Institutional
WHAT GEOGRAPHIC AREA DOES NYCEEC PROVIDE LOANS?
NYCEEC will finance energy efficiency and clean energy projects located in New York, Connecticut, Delaware, Maryland, Massachusetts, New Jersey, 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 predevelopment, construction and permanent financing of energy efficiency and clean energy projects. For additional information on our products, please visit our products page.
WHAT ARE NYCEEC’S TYPICAL TERMS?
NYCEEC normally 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, up to 15 years for solar PV, and up to 25-30 years for C-PACE loans (in jurisdictions where this form of financing is available). Please refer to NYCEEC’s Current Rates and Terms for more details.
IS THERE A MINIMUM OR MAXIMUM LOAN SIZE?
No, although typically NYCEEC can commit to a minimum of $250,000 and to a maximum of up to $5 million per project. However, NYCEEC works with a number of financing partners to finance transactions larger than $5 million. If you are working on a larger project, please contact NYCEEC for more information. Please refer to NYCEEC’s Current Rates and Terms 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 to support private sector lender participation in building energy efficiency and clean energy projects as part of the City’s Climate Mobilization Act. The C-PACE program is sponsored by the Mayor’s Office of Climate and Environmental Justice (MOCEJ) 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.