NYC Accelerator PACE Financing
NYC Accelerator Property Assessed Clean Energy (PACE) is an innovative financing tool that helps commercial and multifamily building owners fund energy efficiency and renewable energy projects. It offers long-term, fixed-rate financing, covering up to 100% of project costs with no cash up-front from the owner.
NYC Accelerator PACE Financing is a program offered by the New York City’s Mayor’s Office of Climate and Environmental Justice, in partnership with the New York City Energy Efficiency Corporation (NYCEEC).
Benefits of NYC Accelerator PACE Financing
- Covers 100% of energy upgrade costs with no cash upfront
- Provides long-term fixed-rate financing
- Can be transferred if the building is sold
- Can finance other project costs needed for installation, like asbestos and lead mitigation of roof upgrades
- Drives energy savings and increases property value
Program Overview and Guidelines