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Fast Track Program

Fast Track: a streamlined option for small- to medium-sized buildings

If you own or manage an existing multifamily building with 5-49 units, you’re eligible for Fast Track; a way for you to upgrade energy performance and earn cash incentives on a shorter timetable, with less administrative work than the standard Multifamily Performance Program.

Get a head start on your project

Find a Partner

Fast Track upgrade projects begin with an energy assessment and a custom Energy Reduction Plan, created by the Multifamily Performance Partner of your choice (use the Partner Locator tool to find Partners in your area). Compared to the standard Multifamily Performance Program, the Energy Reduction Plan will be completed more quickly. Fast Track also offers an option to review a summarized version of the Energy Reduction Plan ahead of the full report and get your energy upgrades - like installing a new boiler, adding insulation or updating light fixtures - underway sooner.

Earn the same incentives - at a faster pace

Fast Track follows a simpler timetable than the standard Multifamily Performance Program. There is just one inspection after the project is 100 percent complete. Following the inspection, all incentives are paid in a single sum.

Fast Track incentive amounts

Anticipated as of November 1, 2014, pending DPS approval of funds transfer.*

Existing Buildings – Base Incentive

Affordable

Market Rate

Electrically-Heated (per unit)

Fuel-Heated (per unit)

Electrically-Heated (per unit)

Fuel-Heated (per unit)

$950

$750

$650

$300

 

Existing Buildings

Performance Payment (per unit)

Tier #1: 20% – 22%

$200

Tier #2: 23% – 25%

$250

Tier #3: 26% – 28%

$300

* Incentives may be adjusted by NYSERDA, and may be revisited as soon as 2015.

Low-interest financing makes your upgrades more affordable

Fast Track energy upgrade projects are eligible for up to $1 million in Green Jobs – Green New York financing, which is available below market rate.

Take the next step and get your Fast Track project started

Taking advantage of Fast Track can reduce your overall project cost, and the total incentive amounts are the same as they would be for any Multifamily Performance Program energy upgrade project. The difference is speed, convenience and simplicity.

Contact a Multifamily performance Partner to get started now.
Learn more about the Multifamily Performance Program.

Last Updated: 10/31/2014