Buildings are responsible for 40 percent of total energy use in the United States (NREL.gov), including 75 percent of all electricity use and 35 percent of the nation’s carbon emissions. There are a lot of decarbonization efforts underway across the country, and many are tackling the challenge of decarbonizing buildings— the design and materials as well as the operations— knowing that the impact can be significant.
For decades, building owners have had to decide between being green and being cost conscious. But today, there are options for implementing building improvements for energy efficiency, water conservation, renewable energy generation, and resiliency enhancements that make both climate and financial sense.
C-PACE Financing
Commercial Property Assessed Clean Energy (C-PACE), is one of these options. C-PACE financing is used for the development and renovation of commercial properties. Property owners can use C-PACE financing to cover 100% of renovation costs for energy efficiency, water conservation, renewable energy generation, and resiliency upgrades. New construction projects cover up to 30% of the capital stack using C-PACE funds.
C-PACE 2.0
There is an even more impactful version of C-PACE, available from PACE Equity. The CIRRUS™ Low Carbon program funds projects that improve energy efficiency and reduce operational carbon, and offers a lower interest rate for doing so.
When a developer or owner designs and builds to the CIRRUS Low Carbon program’s straightforward specification, they qualify for a significant rate reduction and the no-cost support of the firm’s Low Carbon Center of Excellence. Once the project is closed at the lower rate, the project is verified by a third party and the client benefits from a robust marketing toolkit.
Connect with your local Managing Director to learn more.
