February 2025 CT

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Pay for Performance:

This program is aimed toward mid-rise and high-rise buildings. The program commences with a team of profes sionals performing a review of the mechanical components of the building to create an energy savings plan. Once the related work documented in the efficiency plan is com pleted, the building’s energy usage is then monitored, and the incentive paid to the building is based on the level of savings achieved. In addition to the programs offered through the NJCEP discussed above, many utility providers also offer their own financial incentive programs to encourage their customers to improve their energy efficiency. Most of the common util ity providers in New Jersey (PSE&G, JCP&L, etc.) offer low interest or interest free financing for qualifying efficiency upgrades. In addition, certain programs may also cover a portion of the equipment and installation costs for qualifying projects. Discounted Financing:

age owners and operators of multi-unit dwellings to provide EV charging stations for their owners, residents, and guests. The program offers incentives to support the purchase and installation of eligible level two charging equipment. Incentives range from $4,000 to $6,000.

Equipment Upgrade — Direct Install:

The direct install program provides financial incentives for up to 80% of the installation costs to replace existing inefficient equipment with high efficiency alternatives. The program starts with a free assessment of the community or building’s current energy efficiency. A plan is then devel oped to replace inefficient equipment with more modern high efficiency models through an approved contractor. The programs financial incentive will cover a portion of the installation costs ( up to 80%). The remaining balance will then be paid by the community over an agreed upon term, usually through a low interest or interest free loan.

COMMUNITY ASSOCIATION BANKING FINANCIAL STRENGTH MEETS INDUSTRY EXPERIENCE. At First Citizens Community Association Banking, we understand your unique industry. It’s why we match market-leading products with a relationship-based approach to banking designed to help you reach your goals. First Citizens Bank. Forever First. ®

Holly Stimmel, Regional Sales Officer 412-445-4774 | holly.stimmel@firstcitizens.com

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FEBRUARY 2025