CLEAN ENERGY (C-PACE)
Commercial Property-Assessed Clean Energy (C-PACE) is a financing tool that allows commercial property owners to borrow money for energy efficiency, water conservation and renewable energy projects.
Commercial Property-Assessed Clean Energy (C-PACE) financing provides long-term, competitive terms that can help Philadelphia’s commercial property owners save money while reducing their utility bills and carbon footprints. C-PACE financing is secured via a lien on the borrower’s property.
Benefits of C-PACE include:
- Cover 100% of project hard & soft costs
- Long terms (up to 30 years) and competitive rates
- Can address energy usage split incentive issue between owners and tenants
- C-PACE financing transfers with property in the event of sale, which allows for longer payback periods
- Any commercial property (including multifamily) located in Philadelphia
- Tax-exempt organizations (non-profits, churches, etc.)
- Mixed-use buildings
- New construction projects
- Gut Rehab projects
Ready to get started on a C-PACE project in Philadelphia?
The Philadelphia Energy Authority (PEA) administers the Philadelphia C-PACE program with a two-stage application process starting with a short Pre-Application to evaluate the property’s eligibility. Apply now or email email@example.com for more information.