Financing for affordable multifamily energy efficiency projects
The Affordable Multifamily Financing (AMF) program supports investment in energy-saving upgrades for residential properties serving lower-income Californians.
Improved energy efficiency can help the owners of California’s affordable multifamily properties prepare for the future and manage energy expenses. Administered by the State of California with support from the state’s investor-owned utilities, AMF facilitates financing of up to $10 million for energy retrofits for qualifying properties.
The AMF program serves existing multifamily properties of 5 or more units where at least 50% of the units are income-restricted. Properties must have a minimum of 5 years remaining on the affordability covenant at the time of qualification and must receive a gas or electricity bill from at least one of the following utilities: Pacific Gas and Electric Company (PG&E), San Diego Gas & Electric Company (SDG&E), Southern California Edison (SCE) and/or Southern California Gas Company (SoCalGas). AMF may not be used for new construction.
What can be financed?
A broad range of common area and in-unit measures may be financed through AMF. The program supports any energy efficiency or demand response measure found on the pre-qualified Energy Saving Measures list or approved by a Program Partner (see “Designed to work with other programs”).
Additionally, non-energy improvements like play equipment, landscaping and remodeling can be included in the financing. The project may incorporate distributed generation elements, such as solar equipment and battery storage, at the finance company’s discretion.
Interested in learning more?
Contact AMF Program Specialist Susan Mills with eligibility questions and to discuss project ideas: firstname.lastname@example.org
Explore available financing options
- $250,000 - $10,000,000
- 100% project financing
- Terms up to 10 years
- Ability to treat as an off-balance sheet transaction
- Solar and battery storage may be financed
View the financing options as a PDF:
For more information
To learn more about project qualification, view the Affordable Multifamily At-A-Glance Project Eligibility Checklist.
For even more program detail, view the Affordable Multifamily Financing Program Regulations.