On August 30, the New York State Energy Research and Development Authority (NYSERDA), and the New York City Department of Housing Preservation and Development (HPD) announced a pilot program to invest $24 million in beneficial electrification upgrades in New York City’s affordable housing units. The partnership aims to make it easier for affordable housing units to access funding and retrofit their buildings with energy efficient electrification upgrades.
The pilot will attempt to show that affordable multifamily housing can incorporate beneficial electrification upgrades into their financing applications for building renovations. NYSERDA will provide $22 million in funds alongside HPD financing to cover the difference in costs incurred by electrifying affordable housing units and installing other building improvements such as building envelope and hot water distribution systems. NYSERDA will also fund a provider to offer technical assistance for both the pilot participants and HPD towards including electrification upgrades during the building renovation process. The provider will collect data for regular reporting to present to stakeholders as well. The pilot program expects to upgrade approximately 1,200 affordable housing units and benefit 3,000 low-to-moderate income residents. Applications will be accepted starting this fall and will run until the program is out of funds or until the end of 2024, whichever comes first.
This program is funded through NYSERDA's $5.3 billion Clean Energy Fund. For more information, please visit HPD's website at https://www1.nyc.gov/site/hpd/index.page, or contact Emily Dean at NYSERDA at Emily.Dean@nyserda.ny.gov.