PACE Loans in the State of Maryland

Climate Solutions Now Act: Maryland enacted the Climate Solutions Now Act (SB 528) in 2022. This legislation mandates energy performance standards for commercial, institutional, multifamily, and municipal buildings of a certain size. The state aims to reduce emissions by 60% by 2031 and achieve net-zero emissions by 2045. Performance will be measured by net direct emissions standards (kg CO2e per square foot) for interim standards and Site EUI Standards (kBtu per square foot) for the final standard. Existing buildings over 35,000 square feet must achieve a 20% reduction in net direct greenhouse gas emissions by 2030 compared to 2025 levels and net-zero direct greenhouse gas emissions by 2040.

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.