CT Green Bank: C-PACE
Nearing the $100 million mark in renewable energy and energy efficiency investments, Commercial Property Assessed Clean Energy (C-PACE) is an innovative program led by Connecticut Green Bank that lets companies pay for green energy improvements over time.
C-PACE financing covers 100% of commercial project costs with no money down. Property owners pay for the improvements over time through an additional charge on their property tax bill, and the repayment obligation transfers automatically to the next owner if/when the property is sold. 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.
This innovative model makes it easier for building owners to secure low-interest capital to fund energy improvements and is structured so that energy savings more than offset the benefit assessment.
What’s Eligible for the Program?
Lighting. Air Compressors. Solar Panels. Anything that reduces energy costs in your building. Even soft costs like developer fees, energy audits, maintenance contracts and M&V. Click here to find out more about eligible measures.