Obtain Up to 50-70% Cost Coverage for Your Energy Projects
Did you know Con Edison has paid $115 million in cash incentives to commercial and industrial customers in the past 3 years? Sound too good to be true?
Well, timing is everything and now is the time. With increasing social pressure to reduce carbon footprints, combined with newer, bigger buildings coming online and pushing the limits of existing utility infrastructure in NYC, it’s in everyone’s best interest — including your utility provider’s — to finically incentivize building owners to implement projects that reduce demand on the grid and save energy.
There are many incentive programs available to help you cover a large portion of your project costs and get your commercial building’s energy project off the ground. Enica Engineering is fluent in navigating these programs to find the best fit for your needs — especially in the New York Metro Area (including New York City, Westchester, Long Island, and New Jersey).
New York Metro Area Energy Efficiency Incentive Programs
The following two phases of the energy project lifecycle can benefit from cost share or cost coverage for large commercial building energy projects in New York:
The NYSERDA Flexible Technical Assistance (FlexTech) Program can help cover up to 50% of your energy project identification and development costs.
Utility programs like the Consolidated Edison Commercial and Industrial (C&I) Energy Efficiency (CIEE) Program can cover large portions of your energy project costs based on amount of energy saved and/or 50% of project implementation costs, depending on various aspects of your project (per the 2023 program guidelines and subject to change).
5 Steps to Obtain Financial Incentives for NYC Building Owners
Here are the five steps to obtaining financial incentives for energy projects on large commercial building projects in NYC.
1. Evaluate & Develop Options
Make the most of your LL87 energy audit. Evaluating your development options will help you identify the areas where energy efficiency improvements can be made. The audit will also provide you with a baseline for your building’s energy consumption and allow you to track the savings from any energy improvements you make.
2. Identify the Available Incentives & Check Eligibility
The next step is to identify the financial incentives that are available for energy projects in NYC. Some of the incentives may be specific to the type of building or project, while others may be available to all types of buildings.
3. Create an Energy Efficiency Plan
Based on the energy audit, develop an energy efficiency plan that outlines the energy efficiency measures you will implement. This plan should include a detailed analysis of the energy savings that will result from each measure, as well as the cost of implementation.
4. Apply for Financial Incentives
Once you have identified the available incentives and developed your energy efficiency plan, you can apply for the financial incentives. The application process may vary depending on the incentive program, but typically involves submitting a detailed application that outlines your project scope and the expected savings.
5. Implement the Project
After receiving approval to proceed, the financial incentives will often be held in reserve until proof of project completion.
It is important not to shortchange steps 1, 2, & 3 above. It’s critical to develop a robust and thoroughly coordinated plan, since some incentives might only be available on a one-time basis or might be limited to certain types of projects.
For example, a VFD upgrade project might require you to follow a prescriptive incentive rebate path within the program, while a BMS upgrade project might require you to follow a custom incentive rebate path. Consider your fiscal year, your anticipated annual energy cost savings, and the incentive amount when evaluating and prioritizing your projects relative to your goals for carbon footprint reduction and energy savings.
Con Edison Commercial and Industrial (C&I) Energy Efficiency (CIEE) Program
As a participating contractor, Enica Engineering has assisted clients like you in identifying the right path to navigate the program and secure incentive funding through the CIEE Program.
Do you and your commercial building project meet the following criteria? If so, it could be worthwhile to explore your options.
- You have not applied for or received an incentive from the New York State Energy Research and Development Authority (NYSERDA), Con Edison, or another utility provider for the same project.
- Your project is in an existing facility (new construction is not eligible for the Con Edison C&I Energy Efficiency Program).
- You are a directly metered Con Edison commercial or industrial customer.
- Electric: Your Con Edison commercial account is over 100 kW average peak demand on a rolling 12-month basis.
- Gas: You do not have a gas classification of SC-14 service and are not receiving gas via a negotiated contract.
If you meet the criteria above for electric or gas, it can be beneficial to evaluate your options to implement your energy savings projects.
Is Waiting Until Project Completion for Funding Not Acceptable?
If waiting until project completion for your financial incentive payment is not amenable to you or your funding needs, contact the Enica team to learn more about options available to you.
Now Is the Time to Start Your Project to Increase Energy Efficiency
With rising energy costs and a growing focus on sustainability, implementing energy-saving measures not only helps reduce your annual operating expenses, but also helps lower your building’s environmental impact. This is especially important in NYC, where LL97 is increasing the financial pressure to reduce carbon footprint.
If you’re a commercial building owner, you need an energy efficiency strategy and a playbook to navigate the funding available to help you get these projects done. Otherwise, you’ll risk being left in the dust.