RFP 23: Community Decarbonization Fund - Financing for Disadvantaged Community Lenders
RFP 23: Community Decarbonization Fund - Financing for Disadvantaged Community Lenders supports community lenders with clean energy loan capital to benefit disadvantaged communities and affordable housing in New York.
Funder: New York State Energy Research and Development Authority
Due Dates: Rolling (Proposals)
Funding Amounts: $250 million fund; loans from $2 million to the lesser of $25 million or 20% of applicant capitalization; 12-year maturity
Summary: Concessionary financing helps community lenders expand clean energy and efficiency-first decarbonization lending benefiting disadvantaged communities and affordable housing in New York State.
Key Information: This is loan financing for eligible financial intermediaries, not a direct project grant.
Description
NY Green Bank, a division of NYSERDA, operates the Community Decarbonization Fund to expand community lenders’ capacity to finance clean energy and sustainable infrastructure. The fund expects to deploy $250 million in concessionary capital from 2023 through 2027. It supports lenders already financing eligible projects, as well as those developing credible plans to enter this market.
The program emphasizes efficiency-first building decarbonization, energy affordability, and benefits for disadvantaged communities (DACs) and affordable housing in New York State. Priorities include weatherization and load reduction that maximize bill savings, improve comfort, and create healthy, clean, resilient buildings and communities. Financing also supports eligible technologies and businesses that reduce greenhouse gas emissions in alignment with New York’s climate policies.
