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CPACE Financing

Business owners are increasingly in favor of green energy efforts, which is a big win for both the environment and for the businesses themselves. The Commercial Property Assessed Clean Energy (CPACE) program, an extension of PACE, can help commercial business owners pay for crucial renewable energy upgrades and can be up to 30 percent of the capital stack. 

What Is CPACE? 

Commercial Property Assessed Clean Energy (CPACE) is a financing mechanism that enables low-cost, long-term financing for commercial projects, including:

  • Energy efficient upgrades
  • Renewable energy
  • Water control measures
  • Seismic retrofits
  • Hurricane protection measures

CPACE is available in certain states, based on legislation. 


Why Go Green? 

CPACE financing enables businesses to make their property more efficient and resilient with financing terms that can extend up to 30 years.

Through projects that are based on energy efficiency, renewable energy or resiliency, businesses can lower energy costs and increase the bottom line. 


How Does It Work? 

Once you have decided to make energy-efficient updates, or to include them in your new commercial property, you will need to contact a CPACE program administrator

The administrator (not the lender) is the facilitator of the financing and will arrange financing  that you can repay for up to 30 years with an assessment added to your property taxes. Energy savings each year should more than offset your assessment.


Selecting Your Lender

While lenders, like Stearns Bank, do not facilitate CPACE financing, they play a key role in the program. Be diligent in choosing the right lender for you and your project and opt for a lender that: 

  • Is responsive to your questions and concerns
  • Is proactive in keeping the process moving forward and communicates progress
  • Offers an online and mobile banking platform to streamline your assessment payments
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