What is C-PACE?
Commercial Property Assessed Clean Energy (C-PACE) is a financing mechanism for owners of commercial property to fund energy-related property improvements with no upfront costs.
C-PACE programs are enabled by local governments, who collect C-PACE repayments through annual property taxes.
C-PACE offers 100% financing for qualifying clean energy and water conservation projects with no upfront costs.
C-PACE can improve a property's cash flow from day one. Improvements also increase a property's comfort, quality, and market value.
C-PACE assessments have an advantage over conventional financing because they are attached to the property, rather than the building owner and are transferrable upon sale.
C-PACE has been enabled in 36 U.S. states, including Virginia, Maryland, and Washington, DC!
C-PACE is market-based. Private capital providers work with C-PACE programs to provide upfront financing to property owners.
C-PACE contributes to economic development, local job creation, and improved public health.
Who can use C-PACE?
What projects are eligible for C-PACE?
Solar energy equipment
Water conservation & hot water systems
High-efficiency boilers and furnaces, heating ventilation
Building energy management and controls
Building envelope improvements
Cogeneration, energy storage, and more!
Where is PACE in the Mid-Atlantic?
Virginia passed PACE-enabling legislation in 2015, and momentum for C-PACE has grown steadily: in late 2018 and early 2019, several localities enacted ordinances, enabling them to establish a C-PACE program.
Virginia stakeholders continue to educate elected leaders on the important economic development benefits of C-PACE in their communities.
The Cities of Petersburg, Lynchburg, Richmond and Norfolk have adopted C-PACE ordinances and are considering program development options.
Jurisdictions with active C-PACE programs:
In just a few short years, 18 jurisdictions in Maryland have enabled C-PACE programs. Of these, 16 have opted in to the MD-PACE program, a statewide program offered by the Maryland Clean Energy Center and PACE Financial Servicing. Montgomery County and Prince George’s County operate their own C-PACE programs, Montgomery County in partnership with PACE Financial Servicing.*
Counties & jurisdictions with C-PACE Programs:
DC PACE Commercial is a partnership between the District Department of Energy and the Environment (DOEE), and Urban Ingenuity, a firm with extensive expertise in innovative finance solutions for commercial property owners.
DC PACE Commercial has experience in securing C-PACE financing for small businesses, multifamily affordable housing properties, and nonprofit community organizations.
The Montgomery County and Prince George's County C-PACE programs are not affiliated with MAPA.