Financing Options
There are a number of financing options for commercial buildings, non-profits and multifamily buildings. See below for more info, or get in touch with one of our Community Energy Advisors to learn more.
NYSERDA Participation Loan, in which NYSERDA partners with a lender of the borrower's choice, and finances 50% of the loan up to $50,000. The interest rate is the Wall Street Journal Prime Rate of Interest + 2%, fixed at closing for the term of the loan. Learn more on the non-residential information for borrowers.
NYSERDA On-Bill Recovery Loan - The borrower works with a participating lender of their choice to secure a NYSERDA loan of up to $50,000. The borrower repays the NYSERDA loan through a charge on their monthly utility bill. The interest rate is the Wall Street Journal Prime Rate of Interest + 2%, fixed at closing for the term of the loan. Learn more on the non-residential information for borrowers.
Property Assessed Clean Energy (PACE) Financing through Energize NY - innovative financing that is transferable and can cover 100% of project costs. This is currently only available in Broome and Steuben counties, as well as the city of Ithaca, though you can encourage your legislators to approve the mechanism as well.
You may also be interested in market-based financing through local banks in your area.