Multifamily Clean Energy Financing

Financing programs are available for energy efficiency, renewable energy, and related health and safety measures.

Program Terms Contact

PRE-DEVELOPMENT FINANCING

Loan Limit None

CONNECTICUT GREEN BANK Max. 24 months or upon financing and

Term CTGreenbank.com
installation
Pre-development ctgreenbank.com/programs/
Energy Loan Security Unsecured multifamily/

Simple pre-development loan that
funds analysis and design of energy
improvements for multifamily
properties.
Properties serving low and moderate CTGB:
income residents* – 0% John D’Agostino
Interest (860) 257-2333
Market Rate projects – 2.99% multifamily@ctgreenbank.com
Rate
* At least 60% of units must serve tenants at
80% of area median income or below

Fees None

PROJECT FINANCING: UNSECURED

Loan Limit None

Term Up to 20 years, fully amortizing CapitalForChange.org

CAPITAL FOR CHANGE
Low Income Multifamily
Energy (LIME) Loan
Finances the implementation of
energy efficiency improvements,
solar and other renewable systems,
and health & safety measures.
CHIF.org
Security Unsecured; UCC-1 Filing
ctgreenbank.com/programs/
300 basis points over C4C’s blended cost multifamily/
of funds (currently ~6.50%) Capital for Change:
Interest
* In order to qualify for LIME financing, at Brian Sullivan
Rate
least 60% of units must serve tenants at (860) 214-6927
80% of area median income or below bsullivan@capitalforchange.org

2% origination fee plus closing fees (can be

Fees
amortized into loan)

Loan Limit None

Term Up to 20 years
CTGreenbank.com
CONNECTICUT GREEN BANK Subordinate, secured or unsecured ctgreenbank.com/programs/
Security
(contingent on project financials) multifamily/
Catalyst Financing
Project dependent. Contact the Green CTGB:
Gap and health and safety
Bank Multifamily Program for more John D’Agostino
remediation financing to help
Interest information. (860) 257-2333
spur implementation of energy
Rate * In order to qualify for Catalyst financing, multifamily@ctgreenbank.com
improvements.
at least 60% of units must serve tenants at
80% of area median income or below

Fees None

Loan Limit $500 – $500,000

EVERSOURCE ONLY EnergizeCT.com
Term Up to 4 years EnergizeCT.com/your-home/
Municipal Loan for Public Housing solutions-list/Multi-Family
Security Unsecured. On-bill financing available
Authorities
Eversource:
Funds implementation of utility Interest Palma Penna Verrillo
0% financing for Public Housing Authorities
incented energy efficiency measures Rate (860) 665-4786
for Eversource customers. Fees None palma.pennaverrillo@eversource.com
Program Terms Contact

Loan Limit $2,000 – $1,000,000

Term Up to 5 years
EnergizeCT.com
Security Unsecured.
EnergizeCT.com/your-home/
2.99% up to $100,000 for comprehensive* solutions-list/Multi-Family
EVERSOURCE projects. (*Projects implementing more
Eversource Contact:
UNITED ILLUMINATING than one measure from a different energy
Palma Penna Verrillo
end use, i.e. lighting, heating, cooling)
Multifamily Commercial Loan Interest (860) 665-4786
4.99% up to $100,000 for projects not palma.pennaverrillo@eversource.com
Funds implementation of utility Rate
meeting the comprehensive criteria listed
incented energy efficiency UI Contact:
above
improvements John Ruckes
Market rate interest rates on amounts (203) 499-3371
above $100,000 john.ruckes@uinet.com
Loans less than $50k: None
Fees Loans from $50k - $75k: $495
Loans greater than $75k: $995

PROJECT FINANCING: SECURED

Loan Limit No maximum. Loan minimums of $150,000.

Term 5-25 years

CONNECTICUT GREEN BANK C-PACE.com
Secured by a property tax assessment with
C-PACE Security
loan repayment on property tax bill
C-PACE:
John D’Agostino
Funds implementation of energy
Interest (860) 257-2333
efficiency improvements, solar and 5- 6.5% depending on term
Rate multifamily@ctgreenbank.com
other renewable systems that cost
effectively lower operating costs. 3-7.5% of loan amount, depending on
Fees amount financed (can be amortized into
loan)

$3,500 max per unit, up to 30 units;

Loan Limit
CT DEPARTMENT OF HOUSING; $100,000 overall maximum
ADMINISTERED BY CAPITAL FOR CapitalForChange.org
CHANGE Term Max. 10 years
chif.org/page/mel
Multifamily Energy Secured as a mortgage in first or second C4C:
Security
position
Conservation Loan Program Brian Sullivan
(MEL) 0% for EnergyStar heating systems; 3% or (860) 214-6927
Interest bsullivan@capitalforchange.org
Funds implementation of energy 6% based on the income of tenants living in
Rate
efficiency improvements, solar and the building
other renewable systems.
Fees $500

SOLAR-PV FINANCING

CONNECTICUT GREEN BANK Loan Limit None

Solar Power Purchase Term Up to 20 years CTGreenbank.com
Agreement ctgreenbank.com/programs/
C-PACE secured when possible; UCC-1
Through a solar Power Purchase Security multifamily/
Filing in all cases
Agreement (PPA), owners can go CTGB:
solar and lock in lower electricity No interest rate. A PPA is a service John D’Agostino
Interest
costs over the long term with no contract. The price per kWh under the PPA (860) 257-2333
Rate
upfront costs. Makes solar viable for can be fixed or escalating multifamily@ctgreenbank.com
non-profits and housing authorities,
who otherwise would be unable to
Fees None
take advantage of solar tax credits.

Energize Connecticut – programs funded by a charge on customer energy bills. 0317