Program application for interest subsidy
Source version current through Oct 31, 2022
Later State Register activity may affect this section.
Source details
- NYCRR title agency
- Executive Department
- Section status
- Section source receipt
- Source version current through
- Oct 31, 2022
- Text saved
- Sep 13, 2026
- Publisher current-through date
- Oct 31, 2022
- Source captured
- Sep 13, 2026
- Stored text comparison
- Matches the captured source text
(a)Processing.
Program applications for interest subsidies will be processed upon their receipt by the Energy Office on a first-come, first-served basis.
(b)Application contents.
Each program application for an interest subsidy submitted to the Energy Office shall contain the following materials:
(1)A completed application form.
(2)An energy audit or, a technical feasibility study, as appropriate, complying with the requirements of section 7910.7 of this Part.
(3)Two construction bids, or in the case of in-house projects, schedules consistent with paragraph (4) of this subdivision, containing cost estimates for the energy conservation improvement project to be implemented. Cost estimates and schedules must reflect the total installed cost of the project, including materials, labor, and construction management design fees. However, construction management fees greater than 15 percent of the cost of the materials and labor of the energy conservation improvement project are not eligible for an interest subsidy. The Energy Office may, in its discretion, waive the two-bid requirement where the applicant demonstrates good cause for the waiver.
(4)In the case of in-house projects, schedules of wages and projected hours to be worked on the proposed energy conservation improvement project, and two suppliers' estimates of the cost of the materials to be used for the project. Documentation of actual in-house labor costs incurred for approved projects shall be maintained by the applicant and may be reviewed by the Energy Office.
(5)Simple payback calculations for each recommended energy conservation improvement. Simple payback is to be calculated by dividing the total installed cost of the improvement presented in the selected contractor's bid, or in the applicant's schedules and selected estimate in the case of an in-house project, by the projected annual energy cost savings. Ongoing operation and maintenance costs, finance charges, and the cost of preparing and updating energy audits or technical feasibility studies shall not be included in the total installed cost.
(6)Energy savings calculations and calculation sheets. (i) All recommended energy conservation improvements must be accompanied by a full explanation of the methodology used in calculating energy savings. The Energy Office may provide standard calculation sheets, which must be used whenever provided.
(ii)If standard calculation sheets have not been provided by the Energy Office, the methodology used to calculate energy savings will be reviewed for adequacy and reasonableness by the Energy Office.
(iii)The projected annual energy cost savings may include electric demand savings.
(iv)For submetering improvements, energy savings of no greater than 15 percent shall be used.
(7)A copy of the commitment issued by a financing institution to make a program loan, which shall include the terms of such loan, and which shall be submitted either with the application or following a review of the rest of the application and a determination of project eligibility by the Energy Office.
(8)Authorization from the building owner to undertake the energy conservation improvements where the program application is being submitted by someone other than the building owner.
(9)A breakdown of construction management and design fees to be paid for out of the loan proceeds, if applicable.
(10)For projects involving submetering, proof of any required New York State Public Service Commission approval.
(11)Such additional information as may be required by the Energy Office.
(c)Notice of award.
The Energy Office will provide written notification to the applicant and the financing institution making the program loan of the Energy Office's approval of the application and of the amount of the approved interest subsidy. Such notice may require that a program loan be made to the approved applicant within a time period to be specified by the Energy Office.