Eligible Property Owners
Applicants for C-PCAE financing must be the legal record holder of the property for which the property owner wishes to access C-PACE financing. Additionally, the property owner:
- Must be current on mortgage and property tax payments;
- Must not be insolvent or in bankruptcy proceedings.
Eligible Property Types
C-PACE financing is available for privately owned commercial or industrial properties in municipalities or boroughs that have enacted a C-PACE enabling resolution and ordinances.
C-PACE financing may be used to finance the installation or modification of permanent improvements that are intended to reduce energy consumption or demand, energy costs, or emissions affecting local air quality, including a product, device, or interacting group of products or devices that use energy technology to generate electricity, provide thermal energy, or regulate temperature.
An assessment under this section may repay financing for costs of an energy improvement project, including: the cost of materials and labor necessary for the energy improvement project; permit fees; inspection fees; capital provider’s fees; program application and administrative fees energy improvement project development and engineering fees; third-party review fees, including verification review fees; and other hard and soft costs associated with the project.
Municipalities may have additional eligibility requirements. Check with your local municipal C-PACE program administrator prior to developing a C-PACE transaction.