Money does grow on trees - if you have a NYSERDA MPP

If you were to develop a financial model for your property, would you show your utility costs increasing at the same rate as your rents - or more? With today's regularity climate, this is not an incidental question. Don't kick this can down the road. With available technology, there are cost effective strategies to reduce energy consumption to protect your future cash flow. Buildings required to comply with NYC's Local Law 87 - Energy Audits and Retro-commissioning - will have a menu of energy saving recommendations included in their energy efficiency reports. This "menu" is an excellent starting place to develop your energy savings programs. There is more good news - the current pricing differential between oil and natural gas can fund a retro-fit for buildings converting from oil to gas. This "funding source" can be the financing solution for buildings needing to convert from No 6 oil to cleaner fuels or to fund other energy saving measures. Additionally, there is another significant funding opportunity available to multi-family properties that is not well known. This is where the "money grows on trees" part comes in. A rental or condo/coop multi-family property developing an energy reduction plan needs to move closer to this tree. The "Tree" in question is the NYSERDA Multifamily Performance Program. And yes, there are qualifications, but if your multi-family property is located in New York State, is an existing firm gas customer and the proposed energy savings program will result in energy savings of 15% or more, then you are standing under the right tree. Qualification "MUSTS" Your multifamily building MUST be a NYS firm gas customer paying a Systems Benefit Charge - or plan to become one. Your plan MUST result in an overall reduction of energy consumption by 15% or more. You MUST work with a NYSERDA Multifamily Performance Partner. The Money - How Much? While the money calculation can involve a number of factors, the base amount of funding is an easy calculation. Take the number of apartments and multiply the total by $700 (100-unit building - base funding $70,000). Get Funded If your project fits these general guidelines, your next step is to reach out to a NYSERDA MPP Partner that can help qualify your project for this important funding opportunity. Your MPP partner can help make this happen. George Crawford is a principal at NYG Green Partners, New York, N.Y.