NYCEEC

What NYCEEC does

NYCEEC (legal name: New York City Energy Efficiency Corporation) is a 501(c)(3) nonprofit green bank founded in 2010 by the New York City Mayor's Office as the first local green bank in the United States. Headquartered at 1359 Broadway in Manhattan, NYCEEC delivers financing solutions for energy efficiency and clean energy projects across multifamily, commercial, institutional, and industrial buildings, with a stated mission of advancing clean energy markets in low- and moderate-income (LMI) communities.

NYCEEC's core technology is financial engineering rather than software. It offers a structured portfolio of loan products—Direct Loans (7.00%-8.00%, minimum $200K, up to 90-100% financing), PACE Loans (7.50%-8.50%, minimum $500K, up to 100% of project costs), ESA Loans, PPA Loans, Predevelopment Loans, Acquisition Loans, Incentive Bridge financing, and the streamlined Multifamily Express Green (MEG) Loan for cooperatives and condominiums. In addition to direct lending, NYCEEC administers two city-level programs: the NYC C-PACE Financing Program (since 2021, amended in 2024 to include new construction) and the NYC Affordable Housing Reinvestment Fund (AHRF) Offsets Program under Local Law 97.

The organization operates a relationship-based, sales-led origination model funded by a blend of public, private, and philanthropic capital—anchored by a $5 million MacArthur Foundation PRI (2016), multi-bank co-lending relationships, and a 2024 credit guarantee pool (CIGP) backed by 17 philanthropies. NYCEEC monetizes primarily through interest income on its loan portfolio, with a stated capital mobilization of over $500 million across 140+ loan facilities (84% serving LMI communities), tracked against a $1 billion community green lending goal. Customer segments include building owners, project developers, contractors, NYC HPD borrowers, co-ops/condominiums, and institutional/mission-driven clients in the Northeast and Mid-Atlantic.

Name

NYCEEC

Legal name

New York City Energy Efficiency Corporation

Website

https://nyceec.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

NYCEEC is a 501(c)(3) nonprofit green bank, founded in 2010 by New York City, that delivers loans and program administration for energy efficiency and clean energy projects serving building owners, developers, and LMI communities across the Northeast and Mid-Atlantic.

Ownership category

akta.pro rank

Product category

Clean Energy and Energy Efficiency Lending

NAICS

Administration of Housing Programs, Urban Planning, and Community Development (925), Administration of Housing Programs (925110), Administration of Housing Programs (92511), Administration of Urban Planning and Community and Rural Development (92512)

SIC

Federal & Federally-Sponsored Credit Agencies (6111), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Affordable Rental & Multifamily Housing Finance Programs (LIHTC/Tax Credits/Subsidized Loans) (FSALAKAF)

akta.pro secondary industries

Construction & Development (C&D) Lending — Commercial/Multifamily (FSALADAH), Multifamily Construction-to-Perm Financing (FSALAHAD), Municipal/Local Government Development Banks (FSABAKAI), Housing Development, Construction & Rehabilitation Programs (BPAIANAB)

Keywords

• Clean energy lending
• Energy efficiency financing
• Nonprofit green bank
• Commercial PACE financing
• Affordable housing clean energy

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Loan Interest Income: NYCEEC generates revenue through interest income on loans provided to building owners, developers, and contractors for energy efficiency and clean energy projects. Loans range from predevelopment financing to construction and permanent financing, with interest rates typically between 7-8.5%. As a nonprofit, revenue supports mission-aligned activities rather than profit distribution.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels10 records

Core offering

NYCEEC is a nonprofit green bank that provides direct loans for energy efficiency and clean energy projects in multifamily, commercial, industrial, and institutional buildings. Its portfolio spans predevelopment, construction, and permanent financing stages through products such as Direct Loans, PACE Loans, ESA Loans, PPA Loans, Predevelopment Loans, Acquisition Loans, Incentive Bridge loans, and Multifamily Express Green (MEG) Loans. NYCEEC also administers the NYC C-PACE Financing Program and the NYC AHRF Offsets Program for Local Law 97 compliance.

Product overview

NYCEEC is a nonprofit green bank and community lender offering a portfolio of loan products for energy efficiency and clean energy projects. The core products include Direct Loans, PACE Loans, Energy Services Agreement (ESA) Loans, Power Purchase Agreement (PPA) Loans, Predevelopment Loans, Acquisition Loans, Incentive Bridge financing, and Multifamily Express Green (MEG) Loans. These products are designed to address various financing gaps across the project lifecycle—from early-stage predevelopment through construction and permanent financing. NYCEEC also administers two city programs: the NYC C-PACE Program for property tax assessment-based clean energy financing, and the NYC AHRF Offsets Program for Local Law 97 compliance. The products serve building owners, project developers, contractors, and NYC HPD borrowers across multifamily, commercial, institutional, and industrial building types.

Differentiator

Problem solved

Functional benefit

Products and services

• Direct Loan Construction and permanent financing for energy efficiency and clean energy projects in multifamily, commercial, industrial, and institutional buildings. Rates 7.00%-8.00%, loan size minimum $200,000, financing up to 90% of project costs (up to 100% for affordable multifamily). For building owners, developers, and institutional borrowers.
• PACE Loan Property tax assessment-based financing for deep energy retrofits and clean energy projects. Rates 7.50%-8.50%, minimum loan size $500,000, financing up to 100% of project costs as permitted under local PACE law. For commercial and multifamily building owners undertaking retrofits and clean energy installations.
• Energy Services Agreement (ESA) Loan Financing for SPE-owned projects structured under energy services agreements. Minimum loan size $400,000, financing up to 80% of project costs. For project developers using ESA structures with energy services companies.
• Power Purchase Agreement (PPA) Loan Financing for solar and clean energy projects structured under power purchase agreements, covering up to 80% of project costs with a 20% developer equity requirement. For solar and clean energy developers using PPA structures.
• Predevelopment Loan Early-stage financing for predevelopment expenses including architectural, engineering, and permitting costs. 100% financing available for supportive housing projects. For project developers and affordable housing developers needing pre-construction capital.
• Acquisition Loan Acquisition financing for project developers, with rates of 7.00%-8.00% and up to 80% of acquisition costs, with revolving structures available. For developers acquiring sites or assets for clean energy and affordable housing projects.
• Incentive Bridge Bridge financing to cover upfront project costs before receiving utility incentives or tax credits, covering up to 80% of the incentive amount. For building owners and developers who need to bridge timing gaps between project spending and incentive receipt.
• Multifamily Express Green (MEG) Loan Streamlined loan product for cooperatives and condominium associations for solar PV, electrification, and building envelope upgrades. Financing up to 90% of eligible project costs with standardized documentation, expedited closing, and no energy audit required. Minimum loan size $400,000. For co-op and condo boards that cannot economically access traditional bank loans.
• NYC C-PACE Program Commercial Property Assessed Clean Energy financing program administered by NYCEEC for New York City, enabling long-term fixed-rate financing for energy efficiency and renewable energy projects repaid through property tax assessments. NYCEEC serves as program administrator in partnership with the NYC Mayor's Office of Climate and Environmental Justice and approved lenders including Counterpointe Sustainable Real Estate. For commercial and multifamily building owners undertaking retrofits or new construction in NYC.
• NYC AHRF Offsets Program NYC Affordable Housing Reinvestment Fund offsets program that enables buildings subject to Local Law 97 emissions limits to purchase offsets funding emissions reduction projects at affordable housing. Administered by NYCEEC in collaboration with NYC Department of Buildings, NYC Department of Housing Preservation and Development, and NYSERDA. For commercial building owners subject to LL97 seeking offsets and affordable housing owners receiving offset-funded improvements.

Quantifiable outcome

• 91% average energy savings realization rate across NYCEEC financed projects
• +5 more outcomes

Named customers21 records

Segments7 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core.

• EcosavecoreStrategic or Co-development Partner · 1 January 2016From 2016-2019, NYCEEC provided $12.6 million in loans for six Ecosave ESA projects at 10 commercial and institutional buildings in MD, NY, and PA. This partnership helped Ecosave scale and eventually access larger capital markets through NY Green Bank and KeyBanc.
• Sustainable WestchestercoreStrategic or Co-development PartnerMunicipal membership organization collaborated with NYCEEC on integrated community solar, storage, and EV charging project in Westchester County, serving LMI households.
• Groundswell Inc.coreStrategic or Co-development Partner501(c)(3) nonprofit that develops solar projects for underserved communities. Originated and developed solar projects at houses of worship in DC serving 103 LMI families through DOEE Solar for All program.
• NYC Mayor's Office / NYC AcceleratorcoreStrategic or Co-development PartnerNYC C-PACE program offered by Mayor's Office of Climate and Environmental Justice in partnership with NYCEEC as program administrator. NYC Accelerator provides free technical assistance to building owners.
• NYC Department of Buildings (DOB)coreStrategic or Co-development PartnerPartner in AHRF Offsets Program collaboration, establishing emissions limits and offset compliance framework under Local Law 97.
• NYC Department of Housing Preservation & Development (HPD)coreStrategic or Co-development PartnerPartner in AHRF Offsets Program and REDi initiative, providing funding and technical assistance for affordable housing decarbonization projects.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Nonprofit Finance Fund (NFF): CDFI and nonprofit lender providing flexible capital to nonprofits and mission-driven developers in housing and community services. Co-lenders with NYCEEC on community solar bridge-to-permanent loans and shares a deep NYC affordable housing finance footprint.
• Local Initiatives Support Corporation (LISC): Large national CDFI financing affordable housing and community development across the U.S. Overlaps NYCEEC on affordable-housing predevelopment and construction lending in NYC and on LMI-focused mission deployment.
• BlueHub Capital: CDFI providing financing for affordable housing and community facilities in the Northeast, including clean-energy and energy-efficiency loans. Strong overlap with NYCEEC's predevelopment and bridge lending for affordable housing in the same geography.
• Reinvestment Fund: National mission-driven CDFI providing flexible capital for housing, community health, and clean-energy retrofits in distressed markets. Comparable in scale, product mix (including C-PACE) and LMI/affordable-housing mandates.
• Calvert Impact Capital: Mission-driven community investment intermediary that mobilizes capital toward affordable housing, renewable energy, and underserved communities. Co-lender with NYCEEC on the $5.6M Greenpoint Hospital predevelopment loan, with a comparable loan-participation and impact-investing model.
• Connecticut Green Bank: State-level green bank offering C-PACE financing, solar loans, and energy-efficiency products in Connecticut. Closely mirrors NYCEEC's nonprofit green-bank structure, public-benefit mandate, and C-PACE program administration, making it the most operationally comparable peer.
• Rhode Island Infrastructure Bank: State infrastructure bank administering C-PACE and clean-water financing programs in Rhode Island. Partner of NYCEEC on PACE projects and a direct functional peer for municipal green-bank program administration.
• Self-Help Credit Union / Ventures Fund: CDFI lending to underserved communities in energy efficiency, affordable housing, and small business. Operates a comparable combination of direct lending, loan-participation and green-finance products.
• NY Green Bank (NYSERDA): State-sponsored green bank established by NYSERDA providing clean-energy and energy-efficiency financing statewide. Direct counterpart to NYCEEC's mission: NY Green Bank has participated as a senior lender in NYCEEC-originated deals (e.g., the Ecosave credit facility), and both operate complementary roles in NY's climate finance stack.
• Counterpointe Sustainable Real Estate: National C-PACE lender originating PACE financing for commercial and new-construction projects. Partner of NYCEEC as a C-PACE originator under the NYC program (e.g., the $156M Brooklyn film studio loans), with shared specialization in PACE program delivery.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/nyceec
• LinkedInlinkedin.com/company/new-york-city-energy-efficiency-corporation

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NYCEEC