Property Assessed Clean Energy (PACE) is affordable financing that allows property owners to pay for upgrades that increase energy efficiency, harness renewable energy, conserve water, and protect against storms.

The adoption of energy efficiency amongst commercial buildings has progressed slowly due to the high costs associated with retrofitting buildings with renewable energy upgrades. More and more, business owners are turning to PACE financing as a way to pay for these high costs as they look to lessen their environmental footprint and cut down on utility bills. The Commercial Property Assessed Clean Energy (CPACE) program helps commercial business owners, specifically, pay for these upgrades by providing 100% financing and long-term repayment options for eligible energy efficient projects.

CPACE is designed specifically for commercial properties including office, hospitality, retail, multifamily and mixed use.

Despite some similarities, PACE isn’t a loan. PACE financing does provide you with upfront money which you have to repay over time (with a low interest rate). But because the financing is attached to the property and repaid through your property taxes, it’s classified as a property assessment instead of a loan. PACE programs are made possible by state legislation and approved by local governments. However, PACE financing is not a government incentive or subsidy program. PACE does not provide any special discounts, government funding, or payment forgiveness to those who opt to use it.

Ryan Mazelli & Emily Ramey from Ygrene Energy Fund – the Program Administrator for the PACE financing program – give an overview of the PACE program, including property eligibility, examples of eligible improvements, and financing terms.

• Alternative Energy
• Building Envelope
• Heating, Ventilation, Air Conditioning (HVAC)
• High-Efficiency Water Heating
• High-Efficiency Lighting, Appliances
• High-Efficiency Pool Equipment
• Water Efficiency
• Solar Photovoltaic
• Solar Thermal
• Windows, Doors, Skylights
• Wind Resistant Measures

• Increase Property Revenue: Generate positive cash flow with improvements that help increase lease rates and property value.

• Preserve Capital: Cover the full cost of your improvements with longer terms and no personal guarantees.

• Increase NOI: Increase your building efficiency and Net Operating Income (NOI).

• Secure Your Investment: Preserve and maximize property value for the long run through a variety of PACE eligible building improvements.

• Enhance Business Continuity: Keep your business running with backup power systems and extended financing terms to minimize service interruption and cash flow burden.

• Lower Energy Use: Decrease building energy/water consumption and utility bills while lowering your operating costs.

• 100% project financing
• Up to 30 year, fully-amortized terms with fixed rates
• No payments for up to 12 or more months
• Eligibility based primarily on property equity
• Qualify up to 100% CLTV
• Non-recourse financing can be off balance sheet
• No prepayment penalties

Fill out the form below to get started or to ask questions. Michelle Simard, Livable Buckhead’s sustainability program manager will be in touch shortly.