The PACE (Property Assessed Clean Energy) Nation financing program is revolutionizing the way energy efficient equipment is financed in the US.
Commercial Pace (C-PACE) has provided over $850 million in funding of commercial projects, $520 million in the last two years. C-PACE can be used for retrofits, rebuilds and new construction.
Eligible equipment includes efficiency measures such as HVAC, controls, LEDs, windows, water, solar and more.
Your company can receive financing for 100% of equipment and installation costs over 20 – 30 years.
C-PACE financing is repaid as an assessment on the property’s normal tax bill, and is processed the same way other local public benefit assessments have been for years.
The assessment is established by Statewide legislation sponsored by the local taxing authority.
The assessment is attached to the property/building and remains an obligation that survives foreclosure, bankruptcy and sales to others.
The PACE Assessment is established by state legislature, but is enabled only if adopted by the local taxing authority (county or municipality). The program is Active (actually launched and operating) in 16 states, including D.C.
In most Active states, PACE is established only in certain counties or municipalities. Use our Search Tool to see if C-PACE is available in the municipality in which your project is located.