Energy Finance
The commercial sector is large, diverse, and represents substantial energy savings potential as commercial buildings represent just under one-fifth of U.S. energy consumption. Companies in the commercial sector range from large corporations with hundreds of properties across the country to small businesses with one or two properties. A range of financing solutions are available to companies of all sizes and structures that are looking to implement energy efficiency and renewable energy projects. Energy finance for commercial buildings such as hospitality, retail, manufacturing and the commercial real estate sector can help provide market data, and other important resources to help leaders in the sector take advantage of innovative financing strategies. We are leading the way in the financial services industry in Energy Finance.
C-PACE:
(Commercial Property Assessed Clean Energy) is a financing tool that enables
low-cost, long-term funding for energy efficiency, renewable energy, water efficiency, resilience, and public health improvements to new and existing buildings. PACE lenders finance 100% of the hard and soft costs of eligible projects through fixed rate, fully amortizing financing for up to 30 years. PACE assessments are secured by a voluntary assessment on the property, which automatically transfers upon sale.
Property owners may also elect to prepay a PACE assessment. PACE is available for residential and commercial properties, depending on the state’s enabling legislation. Most types of commercial properties are eligible for PACE, including office, hospitality, retail, mixed use, healthcare, industrial, and multifamily buildings with more than four units, depending on the state and PACE program. Many programs have enabled PACE for new construction projects and to refinance installed improvements within a 1-3 year lookback period.
PACE is enabled by state legislation and at the local level by cities and counties. To
date, 38 states and Washington, D.C
