Reduce energy and operating costs and make the multifamily property you own or manage more comfortable and environmentally friendly with the Multifamily Initiative.
What is the Multifamily Loan Program?
This program provides customized solutions for multifamily buildings or complexes with five or more units, and includes:
- Assistance with energy efficiency upgrade projects already planned.
- An assessment of your building's energy-saving opportunities.
- Resources to support in-depth assessment of a full range of strategies for further improvements including solar and other renewable energy, as well as health and safety measures.
- Incentives and financing for energy efficiency upgrades.
Loan Terms ➞
Multiple loans types are available to multifamily building owners with rates as low as 1.99% depending on the loan.
Loan Available For These Measures ➞
Save Energy Throughout Your Multifamily Building’s Apartments and Common Areas.
Existing properties of five or more residential units may be eligible for the Multifamily Initiative.
The following types of properties are eligible:
- Apartment buildings and complexes.
- Condominiums and co-operatives.
- Congregate and senior housing.
- Mixed-use residential and commercial properties.
If you are a Connecticut resident and are not served by one of the utilities listed above, please visit your municipal utility's website to see what energy efficiency programs are available to you. The Connecticut Green Bank provides renewable energy programs and financing to all Connecticut municipalities.
Questions? Contact your utility or the Connecticut Green Bank using a link below:
How To Get Started ➞
Provide your contact information and any project information with this application. For energy efficiency projects, submit it to your electric utility company. For renewable energy and/or financing projects only, submit your application to the Green Bank. If your application is for both energy efficiency and renewable energy or financing, submit it to both your electric utility and the Green Bank.
At this point, if you already have an energy efficiency or renewable energy project, additionally submit any project proposal(s) and a completed Project Form to your electric utility company (for energy efficiency projects) and to the Connecticut Green Bank (for projects including renewable energy and/or financing). After we’ve helped you address this proposal, if you’d like to evaluate your property in a more holistic way, follow the steps below.
Need help designing your project?
Once you’ve completed Step 1 above, a utility or Green Bank representative (as appropriate) will contact you. A professional consultant or in-house representative is available to visit your property to identify the cost-effective energy improvement opportunities that make the most sense for your property. Technical and financial assistance is available through the Multifamily Initiative for a wide variety of design and predevelopment tasks, including:
|Potential Measures Assessed||Technical & Financial Assistance Available|
Using the recommendations from the energy assessment and any technical assistance you select, design and price a comprehensive project that will maximize your energy savings, as well as the incentives and financing you will receive.
If your project qualifies based on your submitted proposals, plans, specifications, and pricing, you will receive a commitment of incentive dollars and, if requested, an offer for financing the balance of the project cost. You can also provide your own financing or explore one of these sources. After construction and required inspections are complete, incentives are paid.
It is recommended that owners track utility use and verify that equipment is working properly during the warranty period and beyond.