NY Green Bank

NY Green Bank — Clean Energy Financing

Supports New York clean energy developers through debt financing and predevelopment loans.

Eligibility · United States · US-NY

NY Green Bank is a specialized investment fund within NYSERDA that deploys debt capital into clean energy and renewable infrastructure projects in New York State that are underserved by conventional commercial lenders. Capitalized through the Clean Energy Fund and operating on a self-sustaining basis by recycling earnings into further investments, NY Green Bank has made cumulative commitments exceeding $2.6 billion since inception. In fiscal year 2024–2025 alone, the institution allocated $221 million, generating estimated lifetime greenhouse gas reductions of 1.8 million metric tons of CO₂ equivalent from that cohort of projects.

NY Green Bank offers four principal financing products: revolving credit facilities, predevelopment loans for early-stage project development costs, interconnection financing to cover the cost of utility interconnection, and construction-to-term loans that bridge project construction through to permanent financing. These instruments target the financing gaps that prevent viable clean energy projects from reaching financial close — particularly projects in predevelopment stages, those facing interconnection cost barriers, and community-scale projects that lack the credit profile to access commercial markets. For-profit developers and nonprofit organizations can apply; universities and individual households are not the target borrowers.

Because NY Green Bank provides loans rather than grants, all capital is expected to be repaid according to the negotiated loan terms; this is not free funding. There are no fixed solicitation rounds or application deadlines — interested borrowers apply through greenbank.ny.gov on a rolling basis and engage directly with the NY Green Bank team to structure a financing proposal. Projects must be located in New York State. NY Green Bank financing frequently stacks with NYSERDA incentive programs such as NY-Sun and Energy Storage, as well as with federal IRA tax credits, to improve project economics for developers assembling full capital stacks.