C-PACE Financing High Performance Building Upgrades
Commercial Property Assessed Clean Energy (C-PACE) is an innovative program that is helping commercial, industrial and multi-family property owners access affordable, long-term financing for smart energy upgrades to their buildings.
C-PACE allows building owners to finance qualifying energy efficiency and clean energy improvements through placing a voluntary assessment on their property tax bill. Property owners pay for the improvements over time through this additional charge on their property tax bill and the repayment obligation transfers automatically to the next owner if the property is sold. Similar to a sewer tax assessment, capital provided under the C-PACE program is secured by a lien on the property, so low-interest, long-term capital can be raised from the private sector with no government financing required. This arrangement spreads the cost of clean energy improvements – such as energy efficient boilers, upgraded insulation, new windows, or solar installations – over the expected life of the measure.
April 1, 2013 - (Hartford, CT), GOV. MALLOY: NORWALK ENERGY EFFICIENCY PROJECT WILL BRING DOWN COSTS, MAKE STATE MORE COMPETITIVE
CT's First C-PACE Clean Energy Project in Norwalk - Video coverage of the April 1, 2013 Norwalk C-PACE event. Courtesy of It's Relevant.com
Learn more about C-PACE and apply online at www.c-pace.com