Philadelphia Commercial Property-Assessed Clean Energy (C-PACE) provides financing for energy efficiency, renewable energy and water conservation in new construction, gut rehab and renovation projects. This financing helps commercial property owners pay for energy efficiency, water conservation, and clean energy projects. This innovative financing tool allows borrowers to save money on utility bills while reducing their carbon footprints.
This new-to-Pennsylvania financing mechanism can fill gaps in the capital stack. Building components impacting energy use are typically 20-30% of the total cost of construction, financeable with C-PACE if energy code is exceeded. It also benefits projects by overcoming several common barriers to reducing the carbon footprint of buildings: 100% upfront financing, up to 30-year terms, and the special assessment stays with the property if a sale occurs.
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Philadelphia C-PACE holds monthly open meetings for those interested in learning more about C-PACE.