The Program for Energy Retrofit Loans (PERL) is a partnership between the New York City Housing Development Corporation (NYCHDC) and the New York City Energy Efficiency Corporation (NYCEEC) to facilitate energy improvements and clean heat conversions that assist building owners in their efforts to reduce their operating expenses, as well as to comply with Local Law 87 and DEP rules enacted pursuant to Local Law 43. Please click here for the Program’s Term Sheets.
HDC and NYCEEC have prepared a detailed Technical Guidelines Manual to cover the required steps for implementing a comprehensive energy efficiency retrofit project that ensures the highest quality of work at all the stages of a project: auditor selection; benchmarking a building’s energy usage (in EnergyScoreCards); conducting an ASHRAE Level II energy audit; selecting, implementing and commissioning a final work scope; and data monitoring and verification. Please click here to read more from the Manual.
A suggested scope of work is prepared by an energy audit firm. The Borrower then chooses items that they would like HDC to finance through the Program, provided that the projected energy savings totals at least 15%. To assist Borrowers in the selection of a qualified energy audit firm, HDC and NYCEEC have selected a pre-approved list of auditing firms for participating borrowers. The purpose of pre-approval is to ensure that audit firms have the demonstrated expertise in making accurate energy savings projections and have sufficient experience in effectively coordinating comprehensive retrofits. This list will be updated approximately every two years. In the event a borrower would like to hire an energy auditing firm that is not on the pre-approved list, the firm will be reviewed on a case by case basis, using criteria similar to those used to establish the pre-approved list. Please see the pre-approved list here, where you can click on each audit firm’s name for a more thorough profile, and case studies.
To streamline and standardize the solicitation process, NYCEEC and HDC have prepared an optional standardized Request for Proposals (Borrower RFP) – borrowers may access the form here.
HDC would advise the borrower to engage the Corporation when they contemplate issuing the RFP or contracting with an energy auditor. In this manner, HDC and the borrower can begin to discuss the property’s ability to support an additional loan through PERL, or what steps the borrower would have to take in order to support the loan, even before the auditor sets out to establish a scope of work for energy improvements.