Petros PACE Finance provides long-term, 100% financing for energy retrofits and upgrades for commercial properties
Commercial Property Assessed Clean Energy (“C-PACE”) is a relatively new and unique financing tool enabling owners of all types of commercial and other non-residential properties to receive long-term, 100% financing for their energy efficiency, water efficiency and renewable energy retrofit or improvement projects. For developers, C-PACE financing has emerged as a low-cost alternative to mezz and equity and is offered on non-recourse, non-accelerating, fixed-rate loan terms that can fund up to 25% of the capital stack for development projects.
C-PACE financing enables businesses to generate immediate positive cash-flow by financing energy retrofits over terms of up to 30 years; the property assessed characteristic of C-PACE makes this possible. By attaching the C-PACE loan repayment to the local government’s property tax special assessment process, C-PACE loans can be extended up to the useful life of the project, thereby making energy savings generated from the project greater than the loan repayment. In many states, this positive cash-flow is required before the project can be approved.