Municipality

What is C-PACE?

C-PACE (Commercial Property Assessed Clean Energy) is an innovative financing solution that makes green energy upgrades accessible and affordable for building owners across Connecticut. C-PACE, administered by Connecticut Green Bank, offers 100% financing for a wide range of energy improvements, so building owners can modernize their buildings, lower their energy costs, and increase their bottom line.

Municipal officials administer and promote C-PACE to help businesses in their municipality stay competitive. Elected officials, economic developers and clean energy task forces drive their community’s participation in the program while tax collectors enable C-PACE to be repaid through a voluntary benefit assessment. Municipalities must pass a resolution and “opt in” to C-PACE to join the program and for their building owners to enjoy the benefits of green energy financing.

All types of properties can use it...

Nearly any type of commercial property is eligible. Privately owned, non-residential buildings (such as industrial, office, retail, agricultural, nonprofit, multifamily, etc.) can all benefit from C-PACE.

...to design a custom solution...

Building owners work with a contractor to develop a custom solution to save money and energy. Contractors connect with Connecticut Green Bank and its technical advisors to provide trustworthy savings projections.

...with all kinds of energy upgrades.

Contractors develop projects that reduce energy usage, including: lighting, heating and cooling, insulation, motors, pumps, solar panels and other green energy upgrades.

100% financing...

Long-term, 100% financing is secured through a capital provider. Terms of up to 25 years allow building owners to spread payments out over time, resulting in positive cash flow for comprehensive projects.

...with a simple repayment structure...

C-PACE financing is repaid through an assessment that is placed on a building owner’s property by their municipality, similar to a sewer assessment, that can be transferred if there is a change of ownership.

...saves energy and money.

Energy savings should more than offset assessment payments. With lower energy costs, building owners unlock positive cash flow for their businesses and increase their buildings’ value.