Friends of NYCEEC,

NYCEEC completed its 2025 Fiscal Year on June 30. The organization grew its total assets versus the prior year and with increased lending capacity for making loans, is poised to grow its loan portfolio during the 2026 Fiscal Year. NYCEEC continues to collaborate with housing agencies, building owners, contractors, developers, and other lenders to pursue its mission: to deliver financing solutions and advance markets for energy efficiency and clean energy in communities.

Recent highlights include:

• Investing in Impact: Through direct financing, partnering with capital providers, supporting other clean energy lenders, and administering clean energy financing programs, NYCEEC has mobilized over $800 million of capital, increasing energy resilience and investing in communities across 24 municipalities. To date, NYCEEC has supported clean energy projects benefitting over 19,000 units of affordable housing. We have structured transactions to support building energy efficiency, high-performance buildings, electric vehicle charging infrastructure, and distributed generation and storage, including transactions to support community solar with benefits to LMI communities.
• Investing in Innovation: While a primary focus at NYCEEC has been financing energy efficient buildings (whether funding specific measures, integrated retrofits, or new construction) and solar energy systems, we continue to support the deployment of newer technologies including:
  • Resilience: In June, NYCEEC provided a predevelopment loan to support energy-efficient affordable housing in Brooklyn. The development is expected to incorporate stormwater management strategies such as permeable paving, bioswales, and rainwater harvesting to reduce sewer overflows, along with native landscaping to enrich green spaces, conserve water, and maintain the health of the nearby canal.
  • Geothermal: In 2025, NYCEEC funded two projects incorporating geothermal measures. The first was associated with the construction of a new affordable multifamily housing for seniors in Brooklyn. The second financed the replacement of steam boilers and conventional HVAC systems with modern, energy-efficiency geothermal heating and cooling systems at a church in Westchester County, New York.
• Investing in Programs: NYCEEC continues to administer New York City’s Commercial Property Assessed Clean Energy (C-PACE) Program. In October, the largest C-PACE transaction to-date closed in the New York City: two loans totaling $156 million to help finance the construction of film and production studios in Brooklyn. The buildings are designed to meet New York City’s zoning code’s “Ultra Low Energy Building” standard. NYCEEC also serves as administrator of New York City’s Affordable Housing Reinvestment Fund (AHRF) Offsets Program in partnership with the NYC Mayor’s Office of Climate and Environmental Justice, NYC Department of Housing Preservation & Development, and NYC Department of Buildings. The AHRF Offsets Program enables building owners subject to Local Law 97 to purchase offsets for up to 10% of their annual emissions limits. The offset purchases then fund emissions reductions projects at affordable housing buildings. The AHRF Offsets Program keeps emissions reductions hyper local, while providing clean air, clean heat, and clean cooling to low-income buildings.
• Investing in Collaboration: NYCEEC’s vision—energy efficiency and clean energy financing for communities to achieve scale and be accessible to all—leads us to support newer partners doing this work. In October, NYCEEC provided a predevelopment loan for the development of a 396-unit, 100% affordable mixed-use complex in Salt Lake City. In addition to the benefits this project will bring to local residents, NYCEEC collaborated on this project with SustainEnergyFinance (SEF) of Utah. This was SEF’s first financing. This collaboration supports SEF’s growth and mission, and as such, supports NYCEEC’s vision of increasing the scale and accessibility of energy efficiency and clean energy financing.
• Investing in NYCEEC: NYCEEC has strengthened its relationships with key partners to position ourselves to increase our impact on behalf of the communities we serve. We participate actively in networks encompassing community development financial institutions and other mission-driven community lenders to identify new opportunities for mutual support and collaboration. We entered into new loan facilities in 2025 to provide NYCEEC with increased capital to finance impactful projects in the communities we serve. We also authored insight briefs to allow us to more easily share our lessons learned with other market participants. In 2025, we have published insight briefs on various topics including C-PACE, the critical role of philanthropies in supporting our work, and the catalytic role of our investments in mobilizing private sector capital.

As we continue our strong start to the 2026 Fiscal Year, NYCEEC has maintained a robust pipeline of transactions and sees numerous opportunities to support community economic development and increased energy resilience. We truly appreciate the assistance of all of our partners and supporters.

Thank you for your continued support of our work and your help in enabling us to meet our important goals. We look forward to continuing our work with you in pursuit of our shared goals!

On behalf of the NYCEEC team,