NYSERDA

Pick a topic, get updates! (opens in new window) Find a Program Find A Contractor About Language Print this page Back to Find a Program Multifamily Financing Programs There are affordable and flexible financing opportunities in New York State to help you make cost-effective energy improvements to your multifamily building: NYSERDA Financing How it works. NYSERDA offers building developers the opportunity to obtain financing on energy-saving building and renovation projects through private commercial lenders. Building owners can finance renewable energy projects to purchase and install solar, air source heat pumps, or ground source heat pumps. In addition, multifamily building owners can access financing for energy efficient projects installed through the Small Commercial Financing Program . NYSERDA provides up to $50,000 per project charging the Wall Street Journal Prime Rate of Interest + 2%, fixed at closing, on its share of the loan with the lender charging its negotiated rate on its share. Get started. Read more about NYSERDA Financing or contact us at [email protected] . NYCEEC Financing How it works. The New York City Energy Efficiency Corporation (NYCEEC) is an independent nonprofit green bank sourcing funds from the philanthropic sectors to support community clean energy projects through debt financing. NYCEEC works closely with borrowers to structure loans that meet their needs and achieve cost and energy savings. Benefits to borrowers include: Flexible and innovative loan structures that can match construction milestones and bridge incentive payments Financing to cover the cost of equipment, construction and eligible soft costs such as energy audits Loan sizes start at $200,000 Getting started. Visit NYCEEC’s website to learn how you can finance your clean energy upgrades and start saving money. For more information contact us by email at [email protected] . PACE Financing How it works. PACE Financing is offered through Energy Improvement Corporation's (EIC) OPEN C-Pace Program. EIC is a New York State non-profit, local development corporation that operates EIC OPEN C-PACE for the benefit of its member municipalities, which include counties and cities across New York State, as well as towns in Westchester County. Get started. Please visit us at www.eicpace.org to find out more about the program. Affordable Housing Agency Financing How it works. There are multiple financing programs and resources available through New York State affordable housing agencies. These programs help multifamily building owners finance upgrades to their properties and reduce operating costs. Get started. Visit the below affordable housing agency sites to learn more about financing opportunities. New York City Housing Preservation & Development (HPD) Financing New York City Housing Development Corporation (HDC) New York State Homes and Community Renewal (HCR) NY Green Bank- Clean Energy Financing Arrangements (RFP 1) How it works. The NY Green Bank is a +$1.0 billion investment fund designed to accelerate clean energy deployment in NYS. The Clean Energy Financing Arrangement offers financing (up to $5 million) to owners of multifamily buildings for a variety of decarbonization projects to obtain high levels of energy performance in New York State. Proposals are evaluated on a rolling basis. Get started. Read more about Clean Energy Financing Arrangements  or contact us at [email protected] . NY Green Bank – Financing Arrangements for High Performance Affordable Housing (RFP 18)