Clean Energy Initiative
The Clean Energy Initiative funds and supports all-electric, energy-efficient retrofits to decarbonize existing affordable housing and historic buildings in New York State.
Funder: Homes and Community Renewal
Due Dates: Integrated with HCR financing application cycles (e.g., 9% LIHTC RFP, 4% HFA Tax-Exempt Bonds, Subsidy Financing) | No standalone CEI deadline
Funding Amounts: Up to $21,500–$30,000/unit (project type dependent); max project awards: $7.95M (Moderate Rehab), $10.5M (Substantial Rehab); 30–50 year loan terms
Summary: Supports all-electric, energy-efficient retrofits for affordable housing in NY State, offering gap financing and technical assistance to decarbonize existing and historic buildings.
Key Information: CEI funds are only available for existing buildings and historic adaptive reuse—not new construction.
Description
The Clean Energy Initiative (CEI), administered by New York State Homes and Community Renewal (HCR) in partnership with NYSERDA, provides financial incentives and technical support for highly efficient, all-electric retrofits of existing affordable housing and historic adaptive reuse projects across New York State. The program aims to accelerate the decarbonization of the affordable housing stock by bridging the funding gap for electrification and deep energy efficiency upgrades, in alignment with HCR’s Sustainability Guidelines Stretch Goal standards and New York's climate targets.
CEI funding is integrated into HCR’s primary affordable housing finance programs, including 9% Low-Income Housing Tax Credit (LIHTC) RFPs, 4% HFA Tax-Exempt Bonds, and HCR Subsidy Financing. The program provides both capital for eligible decarbonization measures and access to Technical Assistance Providers (TAPs) to guide project teams through design, compliance, and post-occupancy measurement and verification.
