Financing Assistance

The New York Energy $mart^SM Loan Fund Program provides Con Edison electric customers interest rate reductions on loans for energy-efficiency projects and renewable technologies to eligible commercial and multifamily building owners and tenants

What the Program Offers

Interest rate reductions up to 6.5% - choose from a network of participating lenders – including banks, credit unions, community development financial institutions, and farm credit associations. The program will “buy down” the lender’s interest rate up to 650 basis points or 6.5%. Interest rate reductions are available for the lesser of 10 years or the life of the loan.

Eligible improvements include:

• Pre-qualified measures which are proven cost effective investments that reduce energy use.
• Custom measures that pay for themselves in 10 years or less through reduced energy use.
• Process improvements measures that reduce manufacturing energy use on a cost-per-unit basis.
• Renewable technologies that use the sun, wind, water or ground to generate heat or power.

New Construction projects must receive incentives under the New Construction or Smart Equipment Choices Programs to be eligible for the Loan Fund. Technical Assistance is available for commercial and residential (5 units or more) customers. Other incetives can be used in conjunction with the Loan Fund.

What Is Available

Loan limits are dependent on the type of borrower you are:

Commercial Facilities and Multifamily New Construction

• $1,000,000 per borrower plus an additional maximum of $500,000 for “green building” improvements

Multifamily Existing Buildings

• $5,000 per unit up to $2,500,000 plus an additional maximum of $2,500,000 for projects that include advanced meters.

List of Participating Banks

How to Participate

• Identify an eligible improvement project and provide necessary documentation
• Receive a loan commitment from a participating lender
• Install the measures in an eligible facility

How To Apply

17 Columbia Circle, Albany, NY 12203-6399    Toll-Free: 1-866-NYSERDA or Local: 518-862-1090    Fax: 518-862-1091
New York City and Buffalo Regional Offices

© 2004 New York State Energy Research and Development Authority