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This paper analyzes Bank of America's $55 million initiative to provide low-cost funding and grant support to advance energy efficiency investment in low- to moderate-income communities. The funding supported community development financial institutions (CDFIs) in developing and enhancing efficiency programs for residential, commercial, and multifamily buildings. We report on loan performance, energy savings, and the degree to which the savings offset the cost of the energy efficiency investment.
With project funding from Energize NY PACE and incentives from NYSERDA's Multifamily program, Natlew Corporation was able to make energy efficiency upgrades to their multifamily affordable housing complex in Mount Vernon, NY.