Program Guidelines

Energize NY Financing is made available to energy efficiency and renewable energy projects that install permanent improvements to reduce energy costs, in existing buildings.

Types of buildings    |  Types of projects   |  Location   |  Ownership structure   |  Project requirements    |  Financial requirements   |  Program Handbook

Types of buildings

All commercially owned buildings in NY State installing permanent energy improvements are eligible for Energize NY financing. At this time new construction is not eligible. See Eligible Buildings.

Types of projects

Energize NY Finance targets comprehensive upgrade projects. Energize NY Financing is made available to energy efficiency and renewable energy projects that install permanent improvements to reduce energy costs, in existing buildings that participate in a NYSERDA or utility upgrade program. The recommendation must result in an energy savings-to-investment ratio greater than 1 over the lifetime of the recommended measure. Typical eligible measures include:

  • High efficiency lighting
  • Heating, ventilation & air conditioning (HVAC) upgrades and controls
  • High efficiency chillers, boilers, furnaces, heat pumps, water heating systems and pumps
  • Building enclosure/envelope improvements
  • Building automation (energy management) systems/smart controls
  • Renewable energy systems such as on-site solar PV, solar thermal or geothermal installations

Location

The commercial property must be located within a New York State municipality that is a member of the Energy Improvement Corporation.  Click here to see a list of current Participating municipalities. If your property is located within a municipality that is not currently a member, please contact your local elected official and encourage joining the EIC. Click here for a letter of encouragement you can send to your municipal officials. 

Ownership structure 

Properties that are commercially owned are eligible to participate in the Energize NY PACE Finance Program.   This classification includes buildings such as those owned by either a For-Profit or a Not-For-Profit Corporation, a Limited Liability Company (LLC), a Partnership, or a Trust.

Project requirements 

Estimated annual energy savings/energy generation > than annual finance payments

Improvements have SIR (savings-to-investment ratio) > 1

Financial requirements 

  • The property's loan-to-value ratio must not exceed 80%/20% 
  • Financing is available for up to 10% of the appraised value of the building
  • No bankruptcy within last 7 years
  • 3+ year history of timely property tax payments
  • Existing lenders must complete a Lender Consent Form. Energize NY can help you attain lender consent.
  • Maximum terms of 15-20 years
  • The building must have a certified appraisal completed within the last 1 year.