Courtesy Flickr user Ervins Strauhmanis under Creative Commons license. The New York Green Bank is open for clean energy business, and this could be good news for residential and commercial energy efficiency measures. Earlier this week, New York Governor Andrew M. Cuomo announced the start of operations for the bank, which is seeking proposals from private sector lenders, investors, and industry participants that facilitate the financing of clean energy projects in the state. The goal is to help facilitate private market financing of renewable energy and energy efficiency projects that have difficulty accessing financing, according to a press release.
Proposals are being accepted from energy service companies, developers, equipment manufacturers or others that provide equipment, materials, or services related to renewable energy and energy efficiency projects, as well as financial institutions and third-party capital providers that intend to finance such projects. Among the project types being supported by the bank are residential and commercial energy efficiency measures, as well as solar, wind, and renewable energy generation projects. Projects must be in New York state.
For residential projects, eligible work includes comprehensive energy efficiency upgrades to existing buildings addressing primary heating and cooling systems such as furnaces, boilers, central air conditioners, and heat pumps; building envelope improvements such as insulation and air sealing; and other health and safety measures. Eligible multifamily projects include comprehensive improvements to systems that affect the entire building, common areas, or resident spaces in regards to lighting, HVAC, the building envelope, energy management, plug load management, advanced metering systems, and water conservation improvements. Eligible commercial projects include comprehensive efficiency improvements to new and existing facilities that save energy via lighting and control systems, HVAC systems, high-performance envelopes, energy management systems, and occupant plug-load management systems.
The NY Green Bank may offer credit enhancements, co-investing with the private sector via a loan fund, or short-term project aggregation, according to the press release. Click here to access the RFP. For more general information, visit greenbank.ny.gov.