What is C-PACE
C-PACE or Commercial Property Assessed Clean Energy is a long term financing tool for commercial property owners to pay for energy efficiency upgrades
A City or County creates a land secured financing district. Property owners sign up for financing to install energy projects. The lender then provides funds to pay for project.
Property Owners then install upgrades to their facilities then the C-PACE loan is paid back through a special assessment on their property taxes
Local Government
establishes PACE Program. After approval City or County will create C-PACE Financing District
Property owner completes energy audit to indentify energy savings. Lender provides capital to pay for approved energy projects.
Property owner receives capital and hires contractors to install energy efficiency projects
Owners use energy
savings to repay
special assessment against the property through property tax bill
Benefits of C-PACE
Cash flow positive from day one and increased property value
Solves split incentive problem, payments can be passed easily to tenant
Financing is not tied to the credit of the property owner or developer
Decreases maintenance cost and increases net operating income
Non-recourse (no personal guarantee) payments run with the land and are
transferred to subsequent owner upon sale of property
Long term with no upfront cost - 100% financing
Energy savings can fund C-PACE assessment payments
Creates Local Jobs
Lower cost of doing business
Healthy Environmental Impact
Before
After
C-PACE in the Capital Stack
Senior
Debt
Mezzanine
Debt
Equity
Senior
Debt
C-PACE
Equity
Active C-Pace States
C-PACE Legislation is constantly developing. Currently these are the markets with funded projects
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Oregon
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California
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Utah
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Colorado
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Texas
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Nebraska
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Missouri
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Arkansas
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Minnesota
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Wisconsin
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Michigan
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Ohio
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Kentucky
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New York
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New Hampshire
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Maryland
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Rhode Island
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Washington DC
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Virginia
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Florida
In Process
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New Jersey
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Illinois
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Georgia
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Pennsylvania
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Massachusetts
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Nevada
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Municipalities

New Construction

Industrial

Retail

Office
Improving Your Asset Efficiently
Heating/Ventilation

Lighting

Insulation

Solar Energy

Roofing

Multi Family

Windows
