If you own a building of five or more units that has only a master meter (apartments are not individually metered), you can improve your profitability and increase your residents’ satisfaction with NYSERDA’s Advanced Submetering Program, a component of our Multifamily Energy Performance Portfolio.
Advanced Submetering provides incentives to help you convert to a system with a master meter and advanced submeters, where every unit is metered and residents pay for the energy they use in their individual units.
More control, electricity savings, and environmental benefits
Advanced submetering technology allows residents to control their own energy use with real-time data. Recent studies show that buildings can reduce their energy consumption by up to 20 percent in the first year alone by installing advanced submeters.
The submeter data gives residents the knowledge they need to change their energy usage to save money. Your building can also take advantage of smart-grid opportunities—using energy when prices are at their lowest and conserving when prices peak.
If residents lower their energy consumption, they lower the demand for electricity from fossil-fueled power plants, which in turn reduces greenhouse gas emissions.
NYSERDA will pay up to half the cost
NYSERDA pays 50 percent of the installed cost of submeters, up to $250 per submeter, and also provides incentives, detailed below, for efficient refrigerators and in-unit lighting so residents see optimum savings in their electric bills.
||$250 per meter, up to 50% of cost of system
||$1,500 per Master Meter
|Refrigerator, ENERGY STAR®
|In unit lighting (permanent fixtures)
Financing for multifamily energy upgrades is more affordable through Green Jobs – Green NY. You can borrow up to $1 million at about half the market rate to pay for the balance of energy efficiency upgrades not covered by NYSERDA’s generous cash incentives. Upgrades (including advanced submetering) to existing buildings are eligible for financing through this program. Read more about Green Jobs – Green NY for multifamily buildings.
Contact NYSERDA’s implementation partner, TRC Energy Services, to get started on your project. They will walk you through all the necessary steps and documentation. You can reach them:
About NYSERDA’s Programs for Multifamily Buildings
NYSERDA offers a portfolio of programs and incentives for owners, facility managers, developers and condo/co-op boards of multifamily buildings with five or more units. Our initiatives make it easier to assess, fund, implement and measure energy efficiency upgrades that improve building performance and your bottom line. Learn more about the Multifamily Performance Program.
Participate in NYSERDA’s Multifamily Energy Performance Portfolio of programs and take advantage of funding for whole-building energy assessments and low-cost financing for energy upgrades through Green Jobs – Green NY. Green Jobs – Green NY is a statewide effort to strengthen our communities through energy efficiency. It enables New Yorkers to make a significant difference in our homes, businesses and neighborhoods—making them more comfortable, more sustainable, and more economically sound. Green Jobs – Green NY is administered by NYSERDA and made available by the Green Jobs – Green New York Act of 2009. Learn more about low-interest financing through Green Jobs - Green NY.