What is C-PACE?
Commercial Property Assessed Clean Energy (C-PACE) is a financial tool property owners can use 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 upgrades including equipment, labor and soft costs. Because C-PACE is attached to a property assessment, it is a very secure form of financing.
How it works
C-PACE is a voluntary program for local government and individual property owners. A county or municipality must pass a resolution or ordinance that includes the adoption of program guidelines and C-PACE.
Once a C-PACE program is established, commercial, industrial and agricultural property owners may develop a clean energy or water conservation project and secure a capital provider to finance the project.
Projects can include energy efficient equipment (e.g. HVAC equipment, LED lighting and building controls), water conservation and renewal energy sources (e.g. solar, fuel cells, etc.). Energy savings must be demonstrated as part of the application process.
What are the project requirements?
- Building located in participating county
- Chester, Northampton, Allegheny, Wayne, Lawrence, Lebanon, Lehigh and Philadelphia.
- Commercial and industrial properties only
- Building upgrades, gut rehabs, new construction permitted
What are the financial requirements?
- $100,000 minimum
- 95% lien-to-value limit
- Capital provider registration with statewide C-PACE database
- Retroactive financing available
How Can Tozour Help?
The experts at Tozour Energy Systems are ready to evaluate the energy use of your property and develop an energy efficiency/clean energy project plan. Our team can help you design your next energy efficient HVAC, lighting and/or building automation upgrades that will help take full-advantage of C-PACE financing.