Financing Options for Energy Efficiency
Programs

Programs

Programs

EmPower New York

  • Description: EmPower New York offers no-cost energy efficiency services to income-eligible New Yorkers. Services provided include energy audits, lighting replacements, refrigerator replacements, and insulation improvements aimed at reducing electric consumption and improving home comfort.
  • Eligibility: Available to both renters and homeowners with an income at or below 60% of the State Median Income.
  • Benefits/Incentives: EmPower New York provides free energy efficiency upgrades, which may include measures such as replacing inefficient appliances and installing insulation, resulting in significant energy savings for eligible participants.
  • Website: https://www.nyserda.ny.gov/All-Programs/EmPower-New-York-Program

Clean Heat Program

  • Description: The Clean Heat Program promotes the installation of clean and efficient heat pump technology in New York homes and businesses, supporting the state’s goals to reduce greenhouse gas emissions.
  • Eligibility: Open to residential and commercial properties in New York. Specific eligibility criteria may vary based on the building type and existing heating systems.
  • Benefits/Incentives: Offers significant financial incentives that cover up to 50% of the project costs or a maximum of $1 million, making the adoption of heat pump systems more affordable.
  • Website: https://cleanheat.ny.gov/

Comfort Home

  • Description: Comfort Home is a NYSERDA initiative that helps existing homes become more energy-efficient. The program offers comprehensive home energy assessments to identify opportunities for energy savings, such as upgrading insulation and HVAC systems.
  • Eligibility: Available to homeowners in New York State, with additional incentives available for those meeting specific income criteria.
  • Benefits/Incentives: Financial assistance is available to help implement recommended energy efficiency measures, tailored to the specific needs of the home.
  • Website: https://www.nyserda.ny.gov/All-Programs/Comfort-Home-Program

Weatherization Assistance Program (WAP)

  • Description: The Weatherization Assistance Program (WAP) helps low-income families improve the energy efficiency of their homes, thereby reducing energy costs and enhancing overall comfort and safety. Typical measures include insulation, weather-stripping, and HVAC system improvements.
  • Eligibility: Priority is given to elderly individuals, families with children, and persons with disabilities, with income eligibility set at or below 60% of the State Median Income.
  • Benefits/Incentives: Benefits/Incentives: The program provides up to $6,500 per unit, covering the cost of energy audits, construction management, and energy efficiency upgrades. Typically, construction costs are between $3,000 to $4,000 per unit​ (Supportive Housing Network of New York)​ (Welcome to Benefits.gov | Benefits.Gov).
  • Website: https://hcr.ny.gov/weatherization

Green Housing Preservation Program

  • Description: Administered by NYC HPD, this program offers low- or no-interest loans to help multifamily building owners make energy efficiency, water conservation, and moderate rehabilitation improvements.
  • Eligibility: Multifamily buildings in NYC with 3 units or more and less than 50,000 square feet. Projects must aim to achieve at least 20% annual energy savings.
  • Benefits: Provides up to $50,000 per residential unit for moderate rehabilitation work, including energy efficiency upgrades, which contribute to significant energy savings and improved living conditions for tenants.
  • Website: Green Housing Preservation Program

Retrofit Electrification Pilot

  • Description: Jointly run by NYC HPD and NYSERDA, this pilot program provides funding for the electrification of heating and hot water systems in multifamily buildings, supporting the city’s goal of reducing carbon emissions.
  • Eligibility: Multifamily buildings in NYC that are part of the HPD preservation financing pipeline.
  • Benefits: Offers up to $26,300 per unit for electrification projects, with a total project cap of $1 million. Additional funding is available for projects involving oil-heated buildings, aiding the transition to more sustainable energy sources.
  • Website: Retrofit Electrification Pilot

Climate Friendly Homes Fund

  • Description: This fund provides financial assistance for electrifying heating, domestic hot water (DHW), and implementing energy conservation measures in affordable multifamily buildings located in low- to middle-income census tracts or disadvantaged communities.
  • Eligibility: Affordable multifamily buildings, both regulated and unregulated, located in specified census tracts.
  • Benefits: Offers approximately $25,000 per unit to cover electrification and energy conservation upgrades, making significant energy efficiency improvements accessible to building owners.
  • Website: Climate Friendly Homes Fund

Clean Energy Initiative

  • Description: A collaboration between NYSHCR and NYSERDA, this initiative provides both financial and technical assistance for retrofitting buildings to be all-electric or electric-ready, supporting sustainable development in affordable housing.
  • Eligibility: Applicable to affordable housing projects that meet certain financing criteria, such as LIHTC, HFA, or HCR Subsidy Financing.
  • Benefits: Provides funding up to $25,000 per unit for existing buildings, or $5,500 per unit for new construction projects, facilitating the adoption of energy-efficient technologies in affordable housing.
  • Website: Clean Energy Initiative

Multifamily Buildings Low-Carbon Pathways Program

  • Description: This NYSERDA program offers incentives for multifamily buildings to implement a range of energy upgrades, including improvements to building envelopes, appliances, heating, cooling, and domestic hot water systems.
  • Eligibility: Multifamily buildings in New York State.
  • Benefits: Provides tiered incentives based on the specific upgrades implemented, such as up to $1,500 per dwelling unit for wall insulation or $4,000 per dwelling unit for heating and cooling upgrades, encouraging comprehensive energy efficiency improvements.
  • Website: Multifamily Buildings Low-Carbon Pathways Program

NY-Sun

  • Description: NY-Sun is a comprehensive initiative of NYSERDA designed to make solar energy more accessible and affordable for New Yorkers. The program offers incentives and financing options for the purchase and installation of solar energy systems.
  • Eligibility: Available to single-family and multifamily homeowners across New York State. Additional incentives are available for low- to moderate-income households.
  • Benefits: Provides incentives up to 25% of the project cost, with a cap of $5,000. Additionally, the program offers financing options such as the On-Bill Recovery Loan and the Smart Energy Loan, making solar adoption more affordable.
  • Website: https://www.nyserda.ny.gov/All-Programs/NY-Sun

Flexible Technical Assistance Program (FlexTech)

  • Description: Administered by NYSERDA, this program offers cost-sharing for energy audits and clean energy analysis to support electrification upgrades in multifamily buildings.
  • Eligibility: Applicable to multifamily buildings that pay into the System Benefits Charge (SBC) or Clean Energy Fund (CEF). Limited funding is available for buildings that do not pay into these funds.
  • Benefits: Provides cost-sharing of up to 75% of the study cost, with a maximum funding of $500,000 or 20% of the building’s annual energy expenditure, making energy assessments and clean energy planning more affordable.
  • Website: FlexTech Program

Integrated Property Needs Assessment (IPNA)

  • Description: The Integrated Property Needs Assessment (IPNA) is a comprehensive assessment tool used primarily for multifamily affordable housing properties. It combines traditional capital needs assessments with energy and water efficiency evaluations, providing property owners with a detailed understanding of their building’s current condition and opportunities for improvement. IPNA helps prioritize investments in energy efficiency, water conservation, and overall building performance to enhance sustainability and reduce operational costs.
  • Eligibility: IPNA is typically used by property owners, managers, and developers of affordable housing who are seeking to make informed decisions about capital improvements and sustainability initiatives.
  • Benefits: By integrating energy and water efficiency with traditional property assessments, IPNA allows property owners to identify cost-saving opportunities and improve building performance holistically. It also aligns with financing and incentive programs, making it easier for owners to access funding for necessary upgrades. IPNA provides a roadmap for strategic investments that enhance both the financial viability and environmental impact of the property.
  • Website: https://www.nyserda.ny.gov/All-Programs/Multifamily-Building-Programs/Integrated-Physical-Needs-Assessment