Commercial Property Assessed Clean Energy
Across the United States, many organizations utilize Commercial Property Assessed Clean Energy (CPACE or C-PACE) financing to provide the capital needed for a large solar energy installation. Participation in CPACE programs is extremely limited and Pope Energy works directly with program facilitators to help our partners become approved.
What is CPACE Financing?
In short, CPACE financing is a special government-sponsored loan program that assists in the development of commercial clean energy projects. CPACE loans are given to projects in which energy savings are projected to outweigh adoption costs.
CPACE financing is available at the state and local level, with growing popularity in commercial solar projects located in Connecticut, Rhode Island, New York, Massachusetts, and beyond. To be eligible for CPACE financing, projects must be located in a state or jurisdiction that currently allows the program.
Is CPACE Financing Right for Me?
CPACE financing is best for organizations looking for long-term energy savings. Funding approval is prioritized for businesses and building owners looking to improve the reliance and reliability of a property with a new clean energy system. Interested organizations can find out if they are located in an area in which CPACE financing is available on the PACEnation website.
CPACE financing is a great method for property owners with triple-net leases to make their buildings more energy efficient thereby saving their long-term tenants money on energy cost, while the tenant helps pay for those capital improvements through the property tax bill.
CPACE Financing Process
To qualify for CPACE financing, it is best to begin with a consultation. Then the next question to ask is, “Has my municipality adopted CPACE financing through the municipal tax bill within the City or Town?” Pope Energy can review and improve your project plans with full administrative and planning services to make sure that it is approved. From there, the project can be financed and installed, slowly paying back the lender through assessed property taxes.
Key Benefits of CPACE Financing
With CPACE financing, commercial solar projects can secure funding for all involved parties. Here are the key benefits of CPACE program approval:
- 100% financing with no out of pocket expenses
- Lower energy costs and cash flow positive installations
- Complete transferability to new building owners and tenants
- Flexible balance sheet reporting
- And custom distribution of rebates and incentives
Pope Energy helps businesses and nonprofit organizations secure CPACE financing and other specialty loans for large commercial solar installations throughout Massachusetts and New England. If you would like to see if CPACE financing is the right option for you, feel free to give us a call to talk to one of our experts.
Talk to a CPACE Financing Expert
Have a question about CPACE financing? Let us know down below and one of our team members will reach out shortly.