Financing Green Energy Upgrades in NYC
Through the New York City Office of Climate and Environmental Justice, the NYC Accelerator program manages a long-term, fixed-rate financing opportunity for 100% green building project loans: PACE (Property Accessed Clean Energy).
This financing supports the installation of greener technologies, including the transition of existing commercial and multi-family buildings into more energy-efficient and environmentally friendly structures. Unlike conventional financing, loans provided through the PACE Financing Program are repaid in installments through a charge on the subject property's tax bill.
Although nonprofits are typically exempt from property taxes, PACE funding may be available for these organizations including universities, hospitals, or museums.
Want to learn more about the NYC PACE program? Here's a link to connect.
PACE Funding in Your Neighborhood
State enabling laws allow local governments to offer PACE financing to building owners. PACE is a voluntary program and can include projects such as: lighting upgrades, HVAC systems, building envelopes, insulation, water conservation, roof replacements, renewable energy solutions, and resiliency projects.
PACE-enabling legislation is active in 40 states, plus D.C., with 32 states and D.C. running active programs.
Find out more about PACE funding in your community.
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