C-PACE Financing for Commercial Solar Energy Projects
Does installing a PV System with no up-front costs sound too good to be true? It’s not. Upgrading your building can actually put money in your pocket with Colorado’s Commercial Property Assessed Clean Energy — C-PACE — program! The C-PACE program provides an opportunity for commercial property owners to achieve significant energy savings.
The C-PACE program enables owners of eligible commercial, industrial, and multi-family buildings to finance up to 100% of energy efficiency, renewable energy, and water conservation projects. Financing is provided by a private capital provider and repaid through a voluntary special assessment on the property tax bill.
Repayment is facilitated through a voluntary assessment on your property (similar to a sewer assessment), and there is no money down and no personal guarantee required. Best of all, in well-designed projects, the energy cost savings outweigh the C-PACE payments, improving your net operating income!
• 100% financing (soft and hard costs)
• Cash-flow-positive projects
• No out-of-pocket costs
• No personal guarantees
• Long-term (up to 25 years)
• Lower utility bills
• Open-market financing
• Owner retains all tax incentives
• Can be combined with utility incentives
• Can be transferred upon sale and does not accelerate
Commercial, industrial, and multi-family buildings are eligible for CPACE financing.
Owners keep any rebates and tax incentives the project receives. Building owners can use their own capital provider or work with one listed with Colorado C-PACE.
Repayment of the C-PACE financing is made through a voluntary special assessment on the property tax bill. When the property is sold, the responsibility for the repayment transfers to the new owner with the property tax bill.
Request a Free Consultation from SoL Energy
Your SoL Energy Project Manager will walk you through the program qualifications and process, so you won’t have any surprises. Once you decide to move forward your Project Manager will coordinate the process from pre-qualification through closing your loan and reviewing your electric bill with you to see your savings.
