C-PACE catalyzes private capital in lieu of public capital, brings economic development to communities, and helps local businesses improve their buildings and reduce operating costs.
Commercial property assessed clean energy (C-PACE) is the fastest growing financing option for clean energy upgrades in the country.
It starts with a government policy that classifies clean energy upgrades as a permanent public benefit – like a new sewer, water line, or road. These upgrades can be financed with no money down and then repaid as a benefit assessment on the property tax bill over long terms (often 20 years or more). The assessment transfers on sale and can be passed through to tenants where appropriate. Building owners across the country are choosing C-PACE thanks to these, and other, benefits.
Eligible properties and qualifying energy efficiency improvements vary by jurisdiction, but often include the following categories:
Almost any commercial or industrial building, including offices, hotels, restaurants, farms, shopping centers and other retail properties, warehouses, religious institutions, non-profits, and factories may be eligible for C-PACE financing.
Energy efficiency and energy generation improvements all qualify for C-PACE financing, including but not limited to:
Solar energy equipment
High-efficiency lighting and building systems
High-efficiency boilers and furnaces and heating ventilation
Air conditioning (HVAC) upgrades
High-efficiency hot water heating systems, combustion and burner upgrades, fuel switching, heat recovery, and steam traps
Building shell or envelope improvements
Building system energy management systems, and process equipment upgrades
Geothermal energy devices