Funding Solar Projects
Pope Energy, located in Boston, Massachusetts, has over 30 years of experience in bringing finance solutions to finance and build projects. If a customer desires to own a commercial solar project and does not have the capability to monetize tax credits and accelerated depreciation, we have a financing solution to meet your needs. If a customer desires to own a solar system, we are able to place power purchase agreements (PPA’s) or tariff agreements in place, as well as leverage banking relationships to finance solar projects.
CPACE (Commercial Property Assessed Clean Energy) Finance
CPACE finance represents a paradigm shift funding 100% of the costs of renewable energy, energy efficiency, water conservation, environmental health, and safety improvements through the property tax bill.
Funding does not need to come from capital budgets. Energy savings must exceed the cost of improvements to enable cash flow for the repayment obligation. The repayment obligation is tied to the municipal assessment of the property and runs with the property as opposed to a property owner.
The CPACE finance model provides for the following:
- 100% Financing
- No Out-Of-Pocket Expenses
- Long-Term Financing (Up to 25 Years)
- Lower Energy Costs
- Cash Flow Positive Projects
- No Personal Guarantees
- Competitive Rates and Terms
- Owner Retains All Tax Incentives
- Combine with Utility Incentives
- Automatic Transfer Upon Sale
- Preserves Capital for Core Business
CPACE financing must be enabled by each state legislature and specifically approved by each municipality, as well have the consent of the first mortgage holder. Pope Energy and CPACE program facilitators are able to assist with municipal and mortgage holder approvals.
Connecticut and Rhode Island have robust CPACE programs, a growing program in New York, and a developing program in Massachusetts.
Contact us to discuss ways to procure funding for solar projects. We are based in Boston, Massachusetts, and serve clients throughout Massachusetts, Rhode Island, Connecticut, New Hampshire, Vermont and New York.