Financing for Clean Energy Improvement in New York
Energize NY Finance is an energy financing program operated by the Energy Improvement Corporation (EIC) - a Local Development Corporation and New York State nonprofit formed to assist property owners in New York State achieve long term energy savings.
How Energize NY Works
Energize NY enables property owners to finance clean energy improvements utilizing the Property Assessed Clean Energy (PACE) model. Property owners pay for up to 100% of the cost of energy efficiency upgrades or renewable energy installations for buildings through their property tax bill. Customers are still eligible to receive incentives from NYSERDA and other programs.
Long-Term Financing With Immediate Savings
Long term financing of up to 20 years is available to ensure that the annual energy savings outweigh the annual cost of financing. In other words, customers immediately profit from their clean energy improvements. Since payment is made on the property tax bill, the Energize NY Finance cost is transferred to the next owner if the property is sold.
Examples of Upgrades Eligible
- Simple measures like lighting improvements
- Heating and air conditioning system upgrades
- Building insulation and façade enhancements
- Installation of commercial rooftop solar systems
- Financing for solar leases and power purchase agreements (PPAs) in many cases
Get More Information About Energy Improvement Financing
Please contact Jim (jnadel@epa-mc.com) or Mitchell (mnadel@epa-mc.com) to learn how we can help you fund your clean energy project through Energize NY.
For more information on the Energize NY Finance program, you may also click here.
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