- Energize NY PACE Financing
Energize NY PACE Financing
The City of Saratoga Springs is proud to participate in the ENERGIZE NY PACE Financing Program (http://commercial.energizeny.org). Energize NY PACE is a clean energy financing program operated by the Energy Improvement Corporation (EIC) - a Local Development Corporation and New York State nonprofit formed to assist property owners in New York State achieve long term energy savings.
The Energize NY program was launched by Commissioner Madigan to assist commercial and not-for-profits access a new financing mechanism to pay for clean energy upgrades that lower buildings’ utility and maintenance costs and add to the value of the City’s building stock. The program is operated through the Finance department.
Benefits of ENERGIZE NY PACE
- Available for commercial property owners including not-for-profits.
- Property owners can finance up to 100% of the cost of energy efficiency upgrades or renewable energy installations for buildings which is repaid through their property tax bill.
- Customers are still eligible to receive incentives from NYSERDA and other programs.
- Long term financing of up to 20 years is available to enable the annual energy savings to outweigh the annual cost of financing. In other words, customers can immediately profit from their clean energy improvements.
- Energize NY PACE financing is transferred to the next owner if the property is sold.
Commercial Building Upgrades
Examples of upgrades range from simple measures such as lighting improvements to more substantial projects involving heating & air conditioning systems, building insulation and air sealing, and even the installation of commercial rooftop solar systems. Energize NY PACE may also be used to finance solar leases and power purchase agreements (PPAs).
Get started today by filling out this online PRE-APPLICATION.
Questions regarding how the program works and for more information, please contact:
City of Saratoga Springs
Tina Carton, Administrator of Parks, Open Lands, Historic Preservation and Sustainability
Phone: (518) 587-3550 ext. 2534