C-Pace

​Connecticut Property Assessed Clean Energy (C-PACE) is an innovative program that helps commercial, industrial and multi-family property owners access affordable, long-term financing for smart energy upgrades to their buildings.

What's the value to me?

If you are looking for financing assistance with a smart energy upgrade to your building.

Description & Overview

Connecticut Property Assessed Clean Energy (C-PACE) is an innovative program that helps commercial, industrial and multi-family property owners access affordable, long-term financing for smart energy upgrades to their buildings.

Services

  • C-PACE allows building owners to finance qualifying energy efficiency and clean energy improvements through placing a voluntary assessment on their property tax bill.
  • Property owners pay for the improvements over time through this additional charge on their property tax bill and the repayment obligation transfers automatically to the next owner if the property is sold.
  • Similar to a sewer tax assessment, capital provided under the C-PACE program is secured by a lien on the property, so low-interest capital can be raised from the private sector with no government financing required.

Eligible upgrades are any energy efficiency or renewable energy measure that:

  • Results in an energy savings-to-investment ratio greater than 1 over the lifetime of the assessment term.
  • Is permanently affixed to the building or property.
  • Although there is no financing minimum, C-PACE is best suited for capital improvements above $150,000

Typical eligible measures include:

  • High efficiency lighting
  • Heating ventilation air conditioning (HVAC) upgrades and controls
  • High efficiency chillers, boilers, furnaces and water heating systems
  • Building enclosure/envelope improvements
  • Building automation (energy management) systems
  • Renewable energy systems

Criteria

  • Location: The property is located within a municipality that has adopted a resolution joining the C-PACE program.
  • Ownership: The applicant is the legal owner of the property and all the legal owners of such property agree to participate.
  • Property Type: C-PACE offers financing to commercial, industrial or multifamily (defined as 5 or more dwelling units) property owners that pay property taxes or have a property tax ID. Residential properties with fewer than 5 dwelling units are not eligible.
  • Building Financials: The property must be current on property tax and assessment payments. The property owner must not have any involuntary liens, defaults, or judgments applicable to the subject property.
  • Lender Consent: The property owner must provide evidence that the mortgage holder(s) on the property consents to the PACE assessment, if applicable.

Contact

W: C-Pace

Phases:

Scale
Plateau

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