Redesigned portfolio offers multiple financial incentives and paths for energy efficiency
July 23, 2012
The New York State Energy Research and Development Authority (NYSERDA) is giving owners and developers of multifamily buildings—including condominiums and co-ops—more ways to reduce energy waste and save money. NYSERDA is offering higher incentives for all existing multifamily housing, including significantly increased incentives for affordable housing buildings that burn only natural gas for their primary space heating, and buildings that exceed energy savings expectations. NYSERDA has also added a fast track for multifamily buildings with five to 49 units, which offers a faster, easier process for identifying improvements to the building and payment of the entire incentive upon completion of improvements.
The expanded options are part of the new Multifamily Energy Performance Portfolio (MEPP), which brings together all NYSERDA multifamily programs under one brand to give owners, managers and developers greater ability to enter into energy efficiency at the point where they are most comfortable. Properties that make energy efficiency upgrades can generally realize significant cost savings and offer residents units that are more comfortable, healthy and sustainable.
“NYSERDA recognizes that every multifamily building is different. By tying incentives to the installation of actual energy efficiency improvements and giving owners and developers more paths, we are making it easier to get started and to complete upgrades,” said Francis J. Murray Jr., President and CEO of NYSERDA. “The new changes also address common obstacles to implementing energy efficiency improvements, from time constraints and lack of financial resources, to having the technical expertise to navigate through all phases.”
MEPP differs from other energy efficiency incentives available today by teaming owners and developers directly with Multifamily Performance Program (MPP) Partners. MPP Partners provide the hands-on expertise critical to help get projects started, process paperwork and keep projects on track to receive incentives.
Highlights of the redesigned portfolio include:
- Multiple entry points for owners of existing buildings to get started with energy efficiency and qualify for incentives through one of two ways:
- Benchmarking that compares a building’s efficiency with similar properties and identifies no- to low-cost basic recommendations for energy improvements
- Comprehensive Whole Building Assessment and Energy Reduction Plan that provides the analysis and recommendations owners need to create a customized path for upgrades that take advantage of interconnections among systems
- Two paths for existing buildings to implement energy efficiency, including the Fast Track, available to properties with five to 49 units, and the Standard Path, available to all multifamily buildings
- Three distinct paths for new construction to enable developers to choose the one that best matches the characteristics of their building, as well as their interest, time and resources
- Modified Prescriptive Path offers a faster option leading to exceptionally performing buildings by incentivizing improvements implemented according to a prescribed list of energy saving options. This path is best suited for gut rehabs and historic buildings, but is appropriate for all types of new construction.
- Prescriptive Path with ENERGY STAR® also offers a faster option leading to exceptional performance in buildings. It incentivizes improvements implemented according to a prescribed list of energy savings options that leads a building to receive the ENERGY STAR label from the Environmental Protection Agency (EPA)
- Performance Path with ENERGY STAR supports a customized, whole building approach to energy efficiency that leads a building to receive the ENERGY STAR label from the EPA
- An incentive schedule that is now tied to project size. NYSERDA’s incentive is based on the number of apartments in the building, so owners, managers and developers can determine how much money they will receive before they even apply to the program.
- Incentives for existing multifamily housing have increased from just over $600 per apartment in the previous version of the program to up to $1,000 per apartment depending on what type of fuel is burned to heat the building and whether it is affordable housing.
- A bonus incentive for all existing building projects up to $300 per apartment, awarded to projects realizing energy reduction savings of 20 percent or higher.
MEPP includes the Multifamily Performance Program, the Energy Reduction in Master-Metered Buildings Program and the Multifamily Building Financing Program. For more information about NYSERDA’s MEPP, call 1-877-NY-SMART or visit NYSERDA's multifamily page.
NYSERDA, a public benefit corporation, offers objective information and analysis, innovative programs, technical expertise, and funding to help New Yorkers increase energy efficiency, save money, use renewable energy, and reduce their reliance on fossil fuels. NYSERDA professionals work to protect our environment and create clean-energy jobs. NYSERDA has been developing partnerships to advance innovative energy solutions in New York since 1975.
Last Updated: 12/19/2013