How does C-PACE work?

C-PACE financing from Connecticut Green Bank makes green energy upgrades accessible and affordable for building owners across Connecticut. There are many different players who take on important roles to make C-PACE financing possible.

Building owners work with a diverse team to make green energy upgrades. With the help of Connecticut Green Bank and other trusted green energy experts, building owners can confidently take control of their energy costs and modernize their building.
Business Owner
A building owners main point of contact, C-PACE contractors design and construct green energy projects and coordinate with other stakeholders to ensure that projects meet technical requirements and qualify for financing.
Contractor
Local governments work with Connecticut Green Bank to make C-PACE financing available in their community. Many municipal officials are involved in administering and promoting C-PACE to attract and keep businesses in their municipality including elected officials (who drive participation), economic development coordinators and energy task forces (who promote the program) and tax collectors (who ensure C-PACE is repaid through a voluntary benefit assessment).
Municipality
Connecticut Green Bank and C-PACE contractors work with a technical advisor, who measures the ratio of energy savings to the cost of financing, to ensure that projects meet program requirements.
Capital Provider
Because a C-PACE assessment takes a senior position to a mortgage, mortgage holders must consent to a project being financed. Connecticut Green Bank helps lenders understand that buildings with green energy upgrades can be valuable assets in their portfolio.
Mortgage Holder
Connecticut Green Bank and capital providers rely on appraisers to determine a building’s value to ensure it meets underwriting criteria and to see how much debt it can support. Appraisers apply specialized skills to assess how completed green energy upgrades will increase property value.
Appraiser
A trusted advisor for green energy, administers the C-PACE program. They coordinate across a wide range of experts to help building owners confidently navigate the C-PACE process.
CT Green Bank
Connecticut Green Bank and C-PACE contractors work with a technical advisor, who measures the ratio of energy savings to the cost of financing, to ensure that projects meet program requirements.
Technical Advisor