[et_pb_section fb_built=”1″ fullwidth=”on” _builder_version=”3.22″ custom_padding=”0px|0px|38px|0px|false|false”][et_pb_fullwidth_header title=”What is C-PACE?” background_overlay_color=”rgba(0,0,0,0.54)” _builder_version=”4.9.6″ title_font=”||||||||” title_font_size=”34px” content_font=”||||||||” content_font_size=”17px” hover_enabled=”0″ subhead=”What is Commercial Property Assessed Clean Energy financing?” sticky_enabled=”0″ background_color=”#2B6534″ background_enable_image=”off”][/et_pb_fullwidth_header][/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.9.6″ _module_preset=”default”][et_pb_row _builder_version=”4.9.6″ _module_preset=”default” column_structure=”1_2,1_2″][et_pb_column _builder_version=”4.9.6″ _module_preset=”default” type=”1_2″][et_pb_video src=”https://www.youtube.com/watch?v=R3Ota3uvM1E” play_icon_color=”#0859a8″ _builder_version=”3.21.4″ module_alignment=”center” hover_enabled=”0″ border_width_all=”1px” sticky_enabled=”0″][/et_pb_video][et_pb_text _builder_version=”3.27.4″]

Video Courtesy of PACENation

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C-PACE is the acronym for Commercial Property Assessed Clean Energy. But C-PACE stands for much more. It is a simple and effective way for county governments to create jobs, retain businesses, and keep dollars in the local economy without raising taxes – simply by helping to make commercial   buildings more energy-efficient.

C-PACE is a government policy based on the principle that commercial energy projects – such as installing solar equipment or improving a building’s heat recovery system – are public benefits like sewers, roads, and bridges. C-PACE authorizes counties to work with private capital providers to provide upfront financing to commercial property owners for qualifying improvement projects, and to collect the repayment through annual or semi-annual surcharges on the property’s tax bill.

By lowering that property’s energy expenses, C-PACE makes the building more inviting to tenants and, consequently, more valuable.  And with C-PACE, there are no upfront costs: C-PACE pays for 100% of a project and is repaid by the surcharge over a 20+ year period. Moreover, the owner can sell the property, treat any expense as operational, and pass on costs to tenants.

C-PACE is available in over thirty states across the country. Many county governments consider C-PACE a key component of their continuing efforts to promote economic development and to protect the environment.

This means that C-PACE stands as a ready reply to the question, “What has my county government done for me?”

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Environmental Benefits

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  • Assists states and local governments in reaching energy and water conservation goals
  • Reduces carbon emissions and water usage

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Economic Benefits

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  • Lowers utility bills for building owners
  • Supports local job creation

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No Cost to Taxpayers

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  • C-PACE financing is funded through private capital, with no cost to taxpayers

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Eligible Property Types

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Eligible Property Improvements

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  • Commercial
  • Religious
  • Agricultural
  • Industrial
  • Warehouse
  • Nonprofit

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  • Energy efficient lighting
  • HVAC technology
  • Chillers or boilers
  • Renewable energy systems
  • Building envelope upgrades (roofs, windows, doors, walls, etc.)
  • Water conservation improvements
  • Elevator modernization
  • Resiliency improvements
  • Environmental remediation projects
  • Water quality improvements
  • Indoor air quality improvements

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Energy contractors across the Maryland are learning that C-PACE financing means completing more jobs more quickly than ever before. One hundred percent of all hard and soft costs associated with eligible measures are financeable (including construction), with no down payment necessary.

This means eligible properties have access to the capital necessary to quickly turn proposals into funded projects.

If you are interested in offering C-PACE financing to your clients as a method of funding your services, please register with the program. You can contact us for more details or immediately complete and return to us the contractor registration form available on the Resources page.

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The MD-PACE program is an open source funding model – meaning that any capital provider can lend!

C-PACE surcharges are a great opportunity for lenders because they are secure investments. Like a property tax lien, the surcharge lien securing the C-PACE financing has priority over other liens on the property. Therefore, the risk of loss from non-payment of a C-PACE loan is minimal compared to most other types of loans.

C-PACE surcharges provide lenders with an attractive new product to assist existing and new customers in addressing pent-up demand for needed commercial and industrial property equipment modernization. In order to protect the interests of holders of existing mortgage loans on the property, the Maryland C-PACE statute requires their written consent to the C-PACE surcharge as a condition to obtaining a C-PACE loan. Importantly, the C-PACE surcharge does not accelerate in the case of a delinquency or default.

The MD-PACE program has established best-in-class servicing for C-PACE surcharges – providing much needed confidence to lenders. We have leveraged C-PACE experience and technology to help develop a highly efficient C-PACE administration and servicing platform. All of which has earned us national recognition as the gold standard in C-PACE financing.

If you are interested in offering C-PACE financing to your clients as a method of funding your services, please register with the program. You can contact us for more details or immediately complete and return to us the capital provider registration form available on the Resources page.

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