The assumption that building green costs more is not rare. However, the lifetime energy savings resulting from more efficient buildings and products typically outweighs the increased upfront expenses.
Unfortunately, when construction budgets are tight, energy efficiency measures and renewables are often the first to go. Thankfully, there’s a program that incentivizes environmentally-friendly building and design–and it works. What is PACE? Property Assessed Clean Energy (PAC
Commercial Property Assessed Clean Energy (C-PACE) is gaining momentum quickly nationally, and in Virginia local governments can authorize C-PACE assessments in their jurisdiction. C-PACE allows building owners longer-term financing of energy saving (or energy producing) improvements, such as insulation, new HVAC equipment or solar panels. C-PACE financing is paid back via a special assessment on a building owner’s property tax bill. The program is voluntary for building owne
Commercial property assessed clean energy, or C-PACE, loans, are an innovative financing mechanism designed to help commercial building owners and real estate developers fund energy-efficiency projects. If they haven’t already, it’s likely that your customers will soon ask for your help with a C-PACE assessment lien. Across the country, a growing number of lenders have not only consented to this funding mechanism, but also are stepping up to finance these deals, which they ca