NYCEEC’s goal is to make energy efficiency investments and clean heat conversions a reality for building owners throughout the five boroughs. We do this by providing helpful information and financial solutions for building owners and their representatives who are interested in turning inefficient buildings into clean, high energy performance investments.
NYCEEC typically works with banks and energy services companies to help them provide financing solutions that best suits a property owner’s needs. NYCEEC can also make loans to building owners for large energy retrofit projects.
Building owners – NYCEEC provides information and financing expertise to help inform decisions about investing in energy efficiency and clean heat conversions.
• NYCEEC can provide unsecured or partially secured loans to large building owners (generally over 50,000 square feet) to finance retrofit measures and clean heat projects.
• NYCEEC can assist building owners in exploring alternative financing solutions to help them complete projects.
Financial institutions -NYCEEC is a source of mission-specific credit enhancement and debt capital to help mitigate risk and incentivize lenders to provide financing products for energy efficiency and clean heat projects. NYCEEC is interested in developing partnerships with lenders and investors that are seeking to commit capital to energy efficiency and clean energy financing.
Vendors and energy services companies – NYCEEC’s financial products are an important tool for product vendors and service providers who are designing, installing and monitoring efficiency and clean heat retrofit measures. NYCEEC’s financing solutions – including loans and credit enhancement – can facilitate energy efficiency projects that would otherwise remain unfunded.
What types of buildings are eligible?
Existing buildings in all five boroughs of New York City are eligible. Our focus is large buildings – generally defined as at least 50,000 square feet – in the multifamily, affordable multifamily, commercial and institutional sectors.
NYCEEC financing is not available to buildings that are owned and operated by state, local or federal government, or to buildings located outside of the City of New York.
What can you use NYCEEC financial products for?
Financing is available for:
• Installation of energy efficiency measures in existing buildings
• Inclusion of energy efficiency measures in building rehabs or tenant fit-outs
• Fuel conversions, under the City’s Clean Heat Initiative, from #6 or #4 heating oil to ultra-low sulfur diesel or natural gas
• Building-sited combined heat and power systems that are part of an energy efficiency retrofit
NYCEEC will finance projects that are designed to save at least 15% energy, as demonstrated by a recent ASHRAE level II audit. We can help you determine whether your project meets this criterion.