Attention Existing Building Owners! The new NYSERDA Multifamily Performance Program is on the streets!
Let us give you a run down on why you should take advantage of this program.
First of all, you are getting new equipment in your building which lessens maintenance headaches. Then you are saving money on energy costs. (This could be thousands of dollars!) Now, your tenants are happier and you have a “green” building which you can market to new residents! Not to forget, healthier and safer living environments! Oh, don’t forget about the increased property values… SEEMS LIKE A NO BRAINER, RIGHT? Right.
Below is the scoop on all the details on the program.
Here are the benefits:
- Minimum 15% Energy Savings in your Building
- Up to $1,000 in Cash Incentives per Unit!
- Rate Buy Down Financing Options
- Additional Performance Incentive of Up to $300 Dollars / Unit (With Savings Over 20% or more!)
Existing Buildings – Maximum Incentives
|Project Type||Firm Gas (per unit)||Non-Firm Gas (per unit)|
A project’s incentive may be reduced based on the cost and/or cost-effectiveness of the recommended upgrades.
Additional Performance Payment
Existing buildings that project at least 20% energy reduction in the Energy Reduction Plan may also be eligible for an additional Performance Payment in accordance with the table below.
|Tier||Performance Payment (per unit)|
|Tier #1 – 20%-22%||$150|
|Tier #2 – 23%-25%||$200|
|Tier #3 – 26%-28%||$250|
|Tier #4 – 29%+||$300|
Financing at about half the market rate
Financing for multifamily energy upgrades is more affordable through Green Jobs – Green NY, which advances 50 percent of the principal borrowed directly to your lender at an interest rate of 0%, effectively reducing the cost of your loan (up to $1 million) to about half the market rate. Green Jobs – Green NY can contribute up to $5,000 per unit or up to $500,000 per project. Read more about Green Jobs – Green NY for multifamily buildings.
Buffalo Energy can take you through the entire process from start to finish. We can help you identify the energy saving opportunities, the work scope, the costs…
We oversee the project and install it properly for you. We provide the best of both worlds – the building consulting and the construction!
We have seen owners save 30 – 40% energy in their buildings which totals thousands of dollars. We have done hundreds of projects across the Northeast but of course, Western New York is our favorite place to work and where the bulk of the magic happens.