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Property types

Eligible Property Types

Commercial Property Assessed Clean Energy (C-PACE) is a state policy-enabled financing mechanism that allows building owners and developers to access the capital they need to make energy-related deferred maintenance upgrades in their existing buildings, support new construction costs, and make renewable energy accessible and cost-effective.

C-PACE is available for Hotel, Multifamily, Senior Housing, Student Housing, Retail, Office, Industrial, and Self-Storage property types.

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Commercial property types that qualify for PACE include Hotel, Multifamily (more than 4 units), Senior Living, Student Housing, Retail, Office, Industrial and Self-Storage.

What is C-PACE Financing?

How does C-PACE Work?

C-PACE makes it possible for commercial property owners to obtain low-cost, long-term financing for ener­gy efficiency, water conservation and renewable energy projects. Most commercial property types qualify for C-PACE financing.

The program starts with a state-level government policy that classifies clean energy upgrades as a public benefit – like a new sewer, water line or road.

These upgrades can be financed with no money down and then repaid as a benefit assessment on the property tax bill over a term that matches the useful life of improvements and/or new construc­tion infrastructure (typically ~20-30 years). The assessment transfers on the sale of the property and can be passed through to tenants where appropriate.

While facilitating sustainability efforts, the program reduces property owners’ annual costs and pro­vides dramatically better-than-market financing for green new construction.

Submit a Clearwater PACE Financing Request