C-PACE: Financing for Major Clean Energy Improvements
- Your building needs an energy upgrade project of $400,000 or more, or
- You’re planning a new commercial development or gut rehab, or
- You have completed significant energy upgrades in the last three years
You may qualify for C-PACE
If you are a commercial real estate developer, NY’s C-PACE financing can fill a gap in your capital stack (at costs significantly lower than equity or mezzanine funding). If you recently completed a major energy upgrade, you may be able to refinance with C-PACE and recover your capital for other uses. If you need to upgrade an existing property of 50,000 square feet or more, or you have an annual energy cost of $100,000 or more, C-PACE is likely to be your best financing option.
Our Regenerative Financing group provides property owners with origination, representation, and concierge services, and earns a fee for arranging the financing through one of EIC’s approved capital providers. (This fee is included in the project financing, so there is no upfront cost to the property owner.) We also offer free “walk-through” audits for owners of commercial properties of 50,000 square feet or larger, or with energy costs of $100K or more per year.
If you have a project that meets the C-PACE eligibility requirements, we’d like to talk with you. Please contact us today to discuss your needs.
Get Your Property Upgraded
If you’re a commercial property owner, manager, or developer of:
- A commercial office or retail building
- An industrial facility
- A multifamily building (5+ units)
- A farm
- A private or nonprofit institutional building, such as a church or private school
- Finance deep retrofits to existing buildings, reducing energy waste, costs, and carbon emissions while improving the indoor environment
- Provide up to 20% of the capital stack for eligible items for new development, replacing costly equity and/or mezzanine debt
- Refinance eligible improvements made in the last three years
- Provide off-balance-sheet, non-recourse, fixed-interest, and long-term financing of 100% of the hard and soft costs of your project so you have $0 upfront cost
- Resolve the “split incentive” in triple net lease situations
Sound too good to be true?
Believe us, we thought so too. But through the collaboration of governments, nonprofits, and the private sector, PACE creates security for investors, cost savings for tenants and property owners, and benefits for the community by reducing carbon and improving the quality of the building stock. It’s a triple-win, a slam-dunk, or as some of us like to say, a no-brainer. Let us show you how you can benefit today: Take Action Now.
We are an independent nonprofit originator, concierge, and consultant. We are not PACE administrators. Our mission is to promote PACE as a source of investment for community regeneration. DISCLOSURE: We earn fees for consulting and for arranging PACE transactions.
And if your project is not eligible for C-PACE, we have alternatives.
Third-Party On-Bill Financing can:
- Finance smaller commercial projects
- Provide 5- to 7-year financing options for energy efficiency and other building improvements
- Is repaid through the third-party energy supply portion of your utility bill (gas or electric)
For more details, and to request an immediate assessment of your property’s needs, see our On-Bill Financing page.