C-PACE (Commercial Property Assessed Clean Energy) is a green energy financing program that helps commercial, industrial, multifamily and non-profit property owners get affordable, long-term financing for green energy upgrades to their buildings.
C-PACE is administered by the Connecticut Green Bank (the nation’s first green bank), an expert and leader in facilitating financing for renewable energy and energy efficiency projects. For building owners, energy improvements financed by C-PACE can produce immediate energy savings and enable them to increase their bottom line.
Mortgage holders benefit from C-PACE, too. How? C-PACE energy improvements are paid for out of the savings that the project creates. Borrowers should realize improved cash flow, leaving them less encumbered and able to repay the financing. Modernized buildings are stronger and more valuable assets on the mortgage holder’s balance sheets. And because building owners are required to get their mortgage holder’s consent before their project is eligible for financing, mortgage holders are involved in determining a property’s eligibility.
C-PACE is a powerful financing tool that creates stronger businesses. When lenders allow C-PACE to move forward, they’re supporting their borrowers, and the green energy movement and economy in Connecticut.