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.
Private investors, in alliance with local governments, provide and arrange PACE funding for the entire cost of the project. There are no upfront expenses for the property owner, and owners can repay with an assessment over a term of up to 30 years.
C-PACE is eligible for all kinds of commercial properties including, Hospitals, Health facilities, Hotels & Motels, Office Buildings, Restaurants, Shopping Centers, Retail Spaces, Warehouses, as well as Government Facilities and Non-Profits.