PACE Equity receives national Climate Finance Innovator Award from the U.S. Department of Energy
Better Buildings initiative chooses Milwaukee-based PACE Equity as the first ever recipient of its award
MILWAUKEE, April 11, 2024 — PACE Equity, the leader in PACE (property-assessed clean energy) financing for development projects, was recognized with the 2024 Climate Finance Innovator award from the Department of Energy’s Better Buildings initiative for its unique CIRRUS™ Low Carbon financing solution, which offers lower financing rates for lower-carbon buildings.
The U.S. Department of Energy’s Better Buildings initiative, launched in 2011, accelerates investment in developing more efficient buildings and shares best practices across the public and private sectors. Its 2024 Climate Finance Innovator Award goes to a Financial Ally who deploys innovative decarbonization financing solutions that go beyond traditional market practices. The inaugural award was chosen for having developed an innovative financial product that enables developments to achieve energy efficiency and reduce greenhouse gas emissions — with Milwaukee’s PACE Equity standing out amongst financial allies for its CIRRUS Low Carbon product.
PACE Equity developed CIRRUS Low Carbon in 2022 to provide real estate developers with reduced financial rates to when they design a building that results in a lower carbon output. It is the only private financial product on the market that directly incentivizes decarbonization.
“As a Financial Ally with the U.S. Department of Energy’s Better Buildings initiative, PACE Equity works to create a more climate friendly real estate landscape while providing developers with the financial tools to move projects forward,” said Beau Engman, president and founder of PACE Equity. “CIRRUS Low Carbon offers developers financial savings when they use C-PACE and pursue a lower carbon footprint.”
Since its inception, CIRRUS Low Carbon has been awarded to 12 commercial real estate developments that have met the low-carbon design specifications for HVAC, hot water heating, lighting, building envelope, and more. Verified CIRRUS Low Carbon properties have contributed 2,200 metric tons of carbon reductions throughout the country with several having been recognized as award-winning real estate development projects.
PACE Equity was recognized for its Climate Finance Innovator award at the 2024 Better Buildings, Better Plants Summit from April 2-4 in Washington D.C.
For more information on CIRRUS Low Carbon and PACE Equity’s financial solutions, visit www.pace-equity.com.
