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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

430 Clinton St Multifamily Solar Deal

430 Clinton

NYCEEC provided financing for the installation of a 24.5 kW solar array and roof replacement with insulation improvements at a 48-unit market-rate condo building in Clinton Hill, Brooklyn. The solar array will meet 100% of energy demand from the building’s common spaces.

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Ariel West Building Looking Up

Aerial West

Ariel West is financing a project to retrofit its existing fluorescent lighting with higher-efficiency LED lighting. The building is using a NYCEEC equipment loan with ConEd incentives to fund the project.

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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

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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.

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125 Maiden Lane

SCIenergy provided a turnkey energy efficiency retrofit solution with a managed energy services agreement (ESA).

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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

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Greenwood Millennium Broadway

The Millennium Broadway is a large business and tourist-oriented hotel in the Theater District. The hotel wanted to install a new cogeneration system and other HVAC-related efficiency measures.

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Sunlight General Solar PV

Sunlight General Capital, a solar developer and investor, owns and operates solar PV projects across three sites owned by houses of worship in Washington, DC. Each of the three sites is in or serves low-to-moderate income (LMI) communities.

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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

Early-Stage Financing for Efficiency and Electrification in Supportive Housing

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.

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Loan A Photo 1

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.

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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

Green Affordable Senior Housing

Green Affordable Senior Housing

NYCEEC provided timely early-stage funding to enable land acquisition for the development of a 3.5-story, 73 affordable housing unit building in Ossining, New York. The units will house seniors making at most 60% of the area median income (AMI).

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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

BES Lenox Hudsonview Deal

Building Efficiency Services

NYCEEC provided funding to bridge the gap between the costs of completed energy efficiency measures in seven multifamily buildings and the associated incentives through the ConEd Multifamily Energy Efficiency Program incentive program.

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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.

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