Commercial Property Assessed Clean Energy (C-PACE) is an innovative financial tool for property owners to obtain low-cost, long-term financing for energy efficiency, renewable energy, and water conservation projects.
C-PACE can provide up to 100% funding of total project costs by placing a special voluntary assessment on the property that repays the costs of the upgrades. Because C-PACE is attached to a property assessment, it is a very secure form of financing.
C-PACE financing is a voluntary program. Once a county or municipality passes a resolution, the program guidelines are finalized and approved by the county/municipality. At that time, commercial and agricultural property owners may develop a clean energy project and secure a capital provider to finance the project. The loan amount is added to the property taxes and collected as an assessment by the county/municipality.
To develop the C-PACE program in Pennsylvania, interested public sector organizations have stepped forward including:
- The Keystone Energy Efficiency Alliance (KEEA)
- Philadelphia Energy Authority
- City of Pittsburgh Sustainability and Resilience Division
- Sustainable Energy Fund
*The C-PACE program has been adopted in Chester County, Northampton County, Allegheny County, Wayne County, and Philadelphia County. The Philadelphia County program is administered by Philadelphia Energy Authority.