PACE Loans in Denver and the State of Colorado

PACE Equity Funds Local Developments

PACE Equity serves Denver and the state of Colorado with commercial real estate financing using Commercial Property Assessed Clean Energy (C-PACE) loans. The state of Colorada allows this financing option to encourage energy efficiency in the local building stock. The C-PACE financing can be used for new construction, redevelopment, renovation, refinancing, and renewable energy projects. Our firm provides C-PACE loans for up to 20% of the capital stack (or 100% for solar and other renewable energy projects). Since 2014, PACE Equity has funded well over 200 PACE projects with a focus on delivering improved return on equity for our clients.

CIRRUS

PACE Equity also offers an innovative low carbon C-PACE financing option called CIRRUS Low Carbon which combines C-PACE financing with a green building designation. The program provides financial benefits, including a substantial rate reduction, for pursuing enhanced energy efficiency. This efficiency improves the carbon footprint of the building which makes it more appealing to your tenants. We even help you by coaching you through the design changes necessary to secure the lower rates.

PACE Financing Expert

Colorado Managing Director

Frank Swain is our Colorado Managing Director. With a background in political lobbying, Frank’s career has been dedicated to developing clean energy and energy efficiency solution. He brings this experience into commercial real estate where he ensures his clients get climate and pocket-friendly results. Reach out to him to schedule a meeting and discuss your next project.

Local PACE Programs

Denver and the state of Colorado’s C-PACE program is administered by the Colorado New Energy Improvement District (NEID). PACE Equity is newly allowed to fund resiliency technologies including protections from floods and wildfires. In addition to new constructions, PACE Equity financing supports retroactive refinancing up to 24 months after completion.  PACE Equity’s Building Optimization and Energy Engineering Teams handle the required energy audit and applications for every program. We will guide you through our end-to-end process expertly and without hassle.

Colorado Building Performance Standards

Energy Performance for Buildings: Colorado enacted HB 21-1286 in 2021, requiring energy performance standards for commercial, multifamily, and public buildings of a certain size. The state aims to reduce emissions by 7% by 2026 and 20% by 2030 compared to 2021 levels. Performance will be measured using Site EUI or GHGI, with specific Site EUI targets set for different property types.

Energize Denver

Energize Denver: Denver enacted Bill 21-1310 in 2021, known as Energize Denver, to significantly reduce greenhouse gas emissions and energy consumption in commercial and multifamily buildings of a certain size. The city aims to reduce GHG emissions by 80% by 2040, decrease building energy use intensity by 30% by 2030, and achieve net-zero energy by 2040. To track progress, the city will measure the weather-normalized site energy use intensity (EUI) of each covered building. By 2030, each building must meet a maximum site EUI standard based on its occupancy type. Interim performance targets in 2024 and 2027 will ensure steady progress towards the final goal.

PACE Equity financing can be used to cover 100% of the costs for renovations and retrofits pertaining to energy efficiency measures. Our in-house engineers, working in our Low Carbon Center of Excellence, are experts in low carbon building design and optimization. When you work with PACE Equity, we can help you fund the upgrades you need to do to comply with EUI targets. Receive our lowest rate for commercial renovation projects with our CIRRUS fund, our one-of-a-kind C-PACE program that offers lower interest rates for developments built to a low carbon engineering specification. When you renovate to meet EUI requirements, CIRRUS and its lower rates can be a great solution. For more information Building Performance Standards visit the Institute for Market Transformation website. 

Relevant PACE Equity Case Studies for Denver and the State of Colorado

Here are some recent case studies of projects you might find interesting. We’ve got more project stories that show the many ways we’ve helped deliver PACE financing.