C – PACE is the commercial form of PACE – Property Assessed Clean Energy – it provides an innovative way for commercial property owners to finance energy efficiency upgrades, renewable energy projects and even water control measures for their properties.
Commercial property assessed clean energy (C – PACE) enables local governments to finance energy efficiency upgrades using land – secured special assessments. Property owners can agree to have assessments levied against their property in exchange for receiving up – front capital for energy efficiency improvements.
In return for receiving up – front capital to finance qualifying energy efficiency and clean energy improvements, property owners approve having assessments levied for their property.
While the C – PACE financing market is in the early stages of development, it is estimated that the investment opportunity in commercial energy efficiency exceeds $270 billion over the next 10 years, translating to over $1 trillion in energy savings, over $3 million and 600 million fewer metric tons of carbon emissions per year.