Commercial Property Assessed Clean Energy (C-PACE) is a financial tool for property owners to obtain low-cost, long-term financing for energy efficient equipment, 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 including equipment, labor, and soft costs. 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 payment is added to the property tax bill and collected as an assessment by the county/municipality.