C-PACE

Colorado’s Commercial Property Assessed Energy (C-PACE) program provides affordable, long-term financing for energy efficiency, water efficiency, and renewable energy projects. Funding under this program is through private capital providers in an open market allowing facility owners to select the most favorable terms.

C-PACE can fund up to 100% of the hard and soft costs of upgrade and efficiency measures enacted at commercial facilities with long-term financing of up to 20 years. Under the program, funds are repaid as an assessment on the facility’s regular property tax bill (similar to sewer & sidewalk assessments). This method coupled with a long payback period enables many projects to be cashflow positive from day one. As a tax assessment, the funding and repayment stay with the building even through ownership changes. As such, owners can retain all the tax incentives, energy savings, and lower operating costs. Also, building owners can combine C-PACE funds with utility incentives or local and federal incentives gained through energy-efficient modernization projects.

C-PACE is a way for facilities to undertake large scale retrofit projects without the initial out-of-pocket costs. C-PACE projects that address comprehensive energy efficiency needs routinely exceed the annual assessment payment, allowing property owners to direct funding to other budget items that need addressing. With 100% upfront financing and long-term repayment schedules, facilities can enact upgrades that address the needs of the entire facility instead of piecemealing out projects or performing only those with fast paybacks.