Financing Opportunity: Pennsylvania C-Pace (Commercial Property Assessed Clean Energy)

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Commercial Property Assessed Clean Energy (C-Pace)

About the program:
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.

About the program:
With C-PACE, building owners can enjoy the advantages of energy upgrades immediately and pay for them over time through a voluntary assessment lien that is repaid annually along with municipal property taxes. C-PACE can provide up to 100% funding of total project costs including equipment, labor, and soft costs. Because C-Pace is attached to a property assessment, it is a very secure form of financing.

Properties eligible for C-PACE in Pennsylvania:

  • Commercial, industrial and agricultural properties can access C-PACE if the county has adopted the C-PACE resolution.

  • The program guidelines adopted by a county will set forth the parameters for how a clean energy project can qualify for both new construction and a retrofit of qualified properties. 

Finance:
Loans through the C-PACE program can be made to any property owner in good standing located in a participating county. Funding for the loan can come from “any public or private financing note, mortgage, loan, deed of trust, instrument, refunding note, or other evidence of indebtedness or obligation used to finance a qualified project.” While loans in other states are generally made from private equity capital providers, Pennsylvania is an open market so the property owner can borrow from a firm of their choice.

Administration:
Owners of commercial and agricultural properties that would like to improve their properties to save energy, conserve water, and/or generate renewable electricity should check the Sustainable Energy Fund (SEF) website or ask your Energy Consultant if C-PACE financing is available in your county or area. (Note: The Program Administrator for City of Philadelphia properties is Philadelphia Energy Authority, not SEF)

Here to Help:
The SSM Energy and Sustainability team provides technical support for C-Pace Philadelphia and is a partner of the Sustainable Energy Fund’s Service Provider Network.
Paul Spiegel, PE, LEED AP | paul.spiegel@ssmgroup.com