Products
NYCEEC Loan Products Cover All Aspects of Building Energy Efficiency and Electrification
Direct Loan
Borrower
Building Owner
Minimum Loan Size
$200,000
% Loan Financing Available
Up to 90% of project costs (up to 100% for affordable multifamily)
Features
Construction financing (if needed) and permanent financing
Multiple draws
Incentive bridging
Eligible Building Types
Multifamily
Commercial and Industrial
Institutional
Eligible Energy Efficiency and Clean Energy Technologies Financed
Building Enclosure
HVAC and Controls
Lighting
Domestic Hot Water
Demand Response
Energy Storage
Solar Photovoltaic
Electrification
Other technologies and applications evaluated on a case-by-case basis
Featured Projects
PACE Loan
Borrower
Building (via property tax mechanism)
Minimum Loan Size
$500,000
% Loan Financing Available
Up to 100% of project costs (or as permitted under local PACE law)
Features
Permanent financing
Construction financing depending on jurisdiction
Eligible Building Types
Multifamily
Commercial and Industrial
Institutional
Eligible Energy Efficiency and Clean Energy Technologies Financed
Building Enclosure
HVAC and Controls
Lighting
Domestic Hot Water
Demand Response
Energy Storage
Solar Photovoltaic
Electrification
Deep Energy Retrofits
High-Performance Buildings
Other technologies and applications evaluated on a case-by-case basis
NYCEEC is a PACE lender in CT
Energy Services Agreement (ESA) Loan
Borrower
SPE owned by developer
Minimum Loan Size
$400,000
% Loan Financing Available
Up to 80% of project costs (20% developer equity)
Features
Construction financing (if needed) and permanent financing
Multiple draws
Incentive bridging
Eligible Building Types
Multifamily
Commercial and Industrial
Institutional
Eligible Energy Efficiency and Clean Energy Technologies Financed
Building Enclosure
HVAC and Controls
Lighting
Domestic Hot Water
Demand Response
Energy Storage
Other technologies and applications evaluated on a case-by-case basis
Featured Projects
Ecosave Hebrew Home
Ecosave provided a turnkey solution with an energy services agreement (ESA) that guaranteed project performance. The project included upgrades such as LED lighting, replacement of fan coil units, building automation system upgrades, electric and steam submeters, air handling units, variable frequency drives on pumps and fans.
Power Purchase Agreement (PPA) Loan
Borrower
SPE owned by developer
Minimum Loan Size
$400,000
% Loan Financing Available
Up to 80% of project costs (20% developer equity)
Features
Construction financing (if needed) and permanent financing
Multiple draws
Incentive bridging
Eligible Building Types
Multifamily
Commercial and Industrial
Institutional
Eligible Energy Efficiency and Clean Energy Technologies Financed
Solar Photovoltaic
Other technologies and applications evaluated on a case-by-case basis
Featured Projects
Green PREDEVELOPMENT Loan
Borrower
Building Owner or Project Developer
Minimum Loan Size
n/a
% Loan Financing Available
100%
Features
Multiple Draws
Loan Extensions available
Eligible Building Types
Multifamily
Supportive Housing
Eligible Energy Efficiency and Clean Energy Technologies Financed
Electrification
Enterprise Green Communities
Energy Storage
etc.
Featured Projects
St. Francis Friends of the Poor
NYCEEC provided interest-free Green Predevelopment Loan funding to St. Francis Friends of the Poor, Inc. (STFFP), a New York-based 501(c)(3) nonprofit that provides affordable and permanent supportive housing for chronically homeless individuals with serious mental illness.
Greenpoint Hospital
The redevelopment of the Greenpoint Hospital campus, in East Williamsburg, Brooklyn, will include apartments for extremely low-income and very low-income residents and seniors, a new 200-bed homeless shelter, a community facility, and a network of new open spaces to connect the campus to the surrounding neighborhood.
Acquisition Loan
Borrower
Project Developer
Minimum Loan Size
$400,000
% Loan Financing Available
Up to 80% of acquisition costs
Features
Revolving Structures available
Eligible Building Types
Multifamily
Commercial and Industrial
Institutional
Eligible Energy Efficiency and Clean Energy Technologies Financed
Electrification
Enterprise Green Communities
Energy Storage
etc.
Featured Projects
Incentive Bridge
Borrower
Incentive Recipients
Minimum Loan Size
$400,000
% Loan Financing Available
Up to 80% of incentive amount
Features
Revolving Structures available
Eligible Building Types
Multifamily
Commercial and Industrial
Institutional
Eligible Energy Efficiency and Clean Energy Technologies Financed
Electrification
Enterprise Green Communities
Energy Storage
etc.
Featured Projects
MultiFamily Express Green (MEG) Loan
Borrower
Cooperatives and Condominium Associations
Minimum Loan Size
$200,000
% Loan Financing Available
Up to 90% of eligible project costs
Features
Standardized Loan Documentation
Streamlined Closing Process
No Energy Audit Required
Eligible Building Types
Cooperatives
Condominiums
Eligible Technologies
Solar Photovoltaic (and associated roof upgrades)
HVAC Upgrades
Electrification
Heat Pumps
Windows
Building Envelope Upgrades
Battery Storage
Local Law 97 Compliance Measures
“Affordable multifamily” is defined as condos, co-ops and rental buildings with demonstrable benefit to affordable tenants.
All projects financed by NYCEEC must provide an expected net annual reduction in greenhouse gas emissions.
NYCEEC, in its sole discretion, may, at any time and without prior notice, stop offering a given loan product, amend or waive compliance with any terms, or reject any or all proposals for funding. All loans are subject to credit approval.