Overview

Commercial Property-Assessed Clean Energy (C-PACE) is a financing tool that allows commercial property owners to borrow money for energy efficiency, water conservation and renewable energy projects. C-PACE provides long-term, competitive terms that can help Philadelphia’s commercial property owners save money while reducing their carbon footprints.

C-PACE in Philadelphia

Pennsylvania authorized the creation of Commercial Property-Assessed Clean Energy (C-PACE) finance programs with the passage of Act 30 of 2018, signed into law by Governor Tom Wolf on June 12, 2018.  As a result, a Pennsylvania county or municipality with an established community or economic development authority can establish a C-PACE program. No statewide program or administrator was assigned, and no startup funding was allocated.

With the leadership of Councilmember Derek Green (At-Large), Philadelphia City Council authorized C-PACE for the City of Philadelphia on June 20, 2019 and assigned the Philadelphia Energy Authority (PEA) as Program Administrator. The bill was signed into law by Mayor Jim Kenney on August 14, 2019.

Philadelphia C-PACE is a completely voluntary program. It allows commercial property owners to obtain financing for eligible energy and water savings projects, typically through private capital providers, and to repay the financing through a special assessment similar to a property tax assessment.

History

  • June 2018: Pennsylvania authorizes C-PACE finance programs
    Pennsylvania authorized the creation of C-PACE finance programs with the passage of Act 30 of 2018.
  • August 2019: Bill No. 190412 signed into law
    Mayor Jim Kenney signed Bill No. 190412 into law, enabling C-PACE in Philadelphia and appointing the Philadelphia Energy Authority to be the Program Administrator.
  • October 2019: Philadelphia C-PACE is launched
    PEA officially launched the Philadelphia C-PACE program and started accepting applications.

Why C-Pace?

C-PACE can help property owners achieve significant savings on their utility bills while reducing their carbon footprints.

Learn More

About the Program Administrator

The Philadelphia Energy Authority (PEA) is an independent municipal authority established by Philadelphia City Council. PEA is authorized to facilitate, develop and finance energy efficiency, storage and generation projects; to purchase or facilitate energy supply and energy services on behalf of the City of Philadelphia, government agencies, institutions and businesses; to educate consumers; and to promote the clean energy sector by undertaking efforts to strengthen the energy efficiency, storage and generation markets in Philadelphia. Philadelphia City Council appointed PEA as Program Administrator for the Philadelphia C-PACE Program.

As Program Administrator, PEA reviews and approves applications, manages the billing and lien processes, engages in market education and supports the growth of the C-PACE program.

Learn more about PEA at philaenergy.org.

For information on Pennsylvania C-PACE outside of Philadelphia, please visit pennsylvaniacpace.org.