C-PACE information for State and Local Governments
The U.S. Department of Energy, Office of Energy Efficiency and Renewable Energy prepared a useful and accurate "fact sheet for State and Local Governments" for the purpose of highlighting the key advantages of enabling and using C-PACE financing on a State and local level.
You can view and download the document by clicking the link here below.
Commercial property assessed clean energy, known as C-PACE, is a tool that can finance energy efficiency and renewable energy improvements on a commercial property.
Key C-PACE Features | State and Local Governments
Learn more about C-PACE with CleanFund to fund your next commercial real estate development.
Depending on the authorizing legislation, C-PACE may be available to industrial, commercial, agricultural, multi-family, and non-profit/religious properties*
*Single family residential is excluded from C-PACE and is subject to different lending regulations. For more information, see the U.S. DOE’s Best Practice Guidelines for Residential PACE Financing.
Depending on the authorizing legislation, eligible projects may include energy efficiency, renewable energy, energy storage, and non-energy measures (e.g., storm and seismic hardening).
C-PACE Terms tend to be long (20-30 years) because repayment is secured by the tax assessment. C-PACE can be transferred to the next property owner (traditional commercial loans are usually 7-10 years).
C-PACE Interest rates are competitive since the tax assessment mechanism is considered secure and low-risk; fees associated with program administration or other services are common.
C-PACE programs may be organized at the local, multi-jurisdictional, or statewide levels.
Public or private funds may be used to finance property improvements. Private capital from regional banks or national specialty lenders is increasingly common as programs mature and grow to scale, while many programs have leveraged public funding (e.g., through bonding).
C-PACE financing may include commercial property owners, capital providers, a program administrator, the mortgage holder (e.g., bank), the contractor providing retrofits, a tax assessor, and others.
Mortgage holder consent is a best practice or requirement for most C-PACE programs.
Use of proceeds
What kind of projects does CleanFund's C-PACE fund?
Who can benefit from using C-PACE financing?
CleanFund's C-PACE benefits many stakeholders in the real estate industry. Discover how C-PACE Financing can benefit your organization.
What States have an established C-PACE program?
At CleanFund, we constantly track the evolution of PACE Policy and Programs in the United States. Everyday.
CleanFund is your partner for C-PACE Financing. Learn how we can make a difference for commercial property owners and developers
C-PACE Financing is one of 2022's best financing tools available to commercial real estate owners and developers. CleanFund's webinars and videos help you better understand how C-PACE can benefit you, even on recently completed projects.