Month: December 2021

December 21, 2021

Philadelphia C-PACE Program Guidelines: Public Comment Period Closed

Thanks to those of you who shared comments on the proposed Philadelphia C-PACE Program Guidelines. They will be updated shortly and posted in the Program Resources page.

As Philadelphia’s C-PACE Program Administrator, the Philadelphia Energy Authority regularly updates our C-PACE Program Guidelines. PEA is offering C-PACE stakeholders an opportunity to provide comments on the changes before they are finalized.

Three documents are available for review:

  1. Redlined version of the Program Guidelines against the version which is currently in effect. 
  2. Clean version of the proposed Program Guidelines
  3. Slide deck of major changes made to Philadelphia’s Program Guidelines since the original version published in October 2019.

The deadline for submission is January 18, 2022. 

A Google Form has been created to submit comments. 

Please submit only one response per organization.

Email CPACE@philaenergy.org if you have any questions. If you are unable to use Google Forms, email CPACE@philaenergy.org and we will make other arrangements.

December 9, 2021

Temporary COVID-19 Extension for Retroactive C-PACE Financing project eligibility

Philadelphia C-PACE Program

December 9, 2021

In response to the COVID-19 pandemic and the resulting protracted impact on the capital markets for commercial real estate, the Philadelphia Energy Authority, the Philadelphia C-PACE Program Administrator, will allow up to a 6-month extension of the deadline for Retroactive C-PACE Financings for projects completed on or before December 1, 2020. 

Per Section 11 of the Philadelphia C-PACE Program Guidelines, retroactive financings must close within 730 days of the project’s construction completion date or when the project received its certificate of occupancy. 

With this extension, projects that received their Certificate of Occupancy or equivalent on or before December 1, 2020 have been granted an extension of up to an additional six months (183 days) of retroactive eligibility or until December 1, 2022, to complete C-PACE Financing, whichever date is sooner. Several examples follow:

EXAMPLE
Certificate of Occupancy or Equivalent		Final Date for C-PACE Financing Closing
August 1, 2019+913 days = January 30, 2022
December 31, 2019+913 days = July 1, 2022
June 30, 2020+884 days = December 1, 2022
August 15, 2020+838 days = December 1, 2022 
December 1, 2020+730 days = December 1, 2022

All retroactive project applications must continue to adhere to the requirements in the Philadelphia C-PACE Program Guidelines.