ENABLING PRIVATE CAPITAL TO FINANCE
ENERGY EFFICIENCY AND RENEWABLES
IN COMMERCIAL BUILDINGS
C-PACE Alliance is a network of industry stakeholders committed to achieving Commercial PACE’s potential in energy efficiency, life-safety conditions, economic competitiveness, and private investment.
The C-PACE Alliance (CPA) believes in the transformative power of C-PACE financing to reduce energy consumption and upgrade the quality of commercial, industrial and multifamily apartment buildings. We believe that C-PACE financing should be easy-to-use and low-cost so that the greatest number of property owners can complete their building improvements.
The CPA represents the interests of capital providers and other stakeholders who share common goals in the design and administration of C-PACE programs. CPA works closely with PACE Nation, the trade association for commercial and residential PACE programs, while recognizing that C-PACE is distinct from R-PACE, with different customers, different types of financing structures, and a different business model.
CPA Alliance Goals
- Improved energy efficiency, renewable energy deployment, reduced energy consumption, and installation of other building improvements deemed to be in the public interest,
- Local economic development and vitality,
- Delivery of long-term, low-cost financing to property owners,
- Transparency and simplicity of program implementation and administration, and
- High usage and project volume of C-PACE financing.
Mortgage Holder’s Guide to C-PACE and C-PACE, Historic Tax Credits and the use of SNDAs.
Commercial Property Assessed Clean Energy (C-PACE) is a financing tool that enables low-cost, long-term funding for energy efficiency, renewable energy and water conservation projects. PACE financing is repaid as an assessment on the property’s regular tax bill, and is processed the same way as other local public benefit assessments (sidewalks, sewers).
C-PACE programs are established locally. State legislation authorizes municipalities to create C-PACE programs. Local governments have developed a variety of successful program structures.
All C-PACE programs have key features in common:
- C-PACE is voluntary for all property owners.
- C-PACE can cover 100 percent of a project’s hard and soft costs.
- Extended repayment terms up to 30 years
- C-PACE can be combined with utility, local and federal incentive programs.
- C-PACE assessments are filled with the local municipality as a lien on the property
Property owners love C-PACE because they can fund projects with no out-of-pocket costs. Since C-PACE financing terms extend to 30 years, it’s possible to undertake deep, comprehensive retrofits that have meaningful energy savings and a significant impact on the bottom line. The annual energy savings for a C-PACE project usually exceed the annual assessment payment, so property owners generate positive cash flow immediately. That means there are increased dollars that can be spent on other capital projects, operating expenses, or business expansion. Local governments love C-PACE because, in addition to conserving energy, C-PACE stimulate economic development while lowering the cost of doing business. C-PACE projects also have a positive impact of air quality, creating healthier, more livable neighborhoods.
How Can I Get C-PACE?
www.pacenation.us has tools and resources to see if your state has passed a C-PACE statute and if your area has an active program.