Developers can use C-PACE in a variety of contexts, including on new construction, gut rehab and even retroactively-financed projects.
C-PACE for New Construction Projects
New construction projects that exceed the minimum code requirements in Philadelphia (IECC-2018) are eligible for C-PACE financing. One hundred percent (100%) of the cost of the eligible energy and water measures, as well as some soft costs, can be financed with C-PACE.
The ECM Survey will determine whether the building exceeds minimum code requirements.
C-PACE for Gut Rehabs
Developers can use C-PACE for a substantial (gut) renovation or adaptive reuse of a property. In this case, the baseline for the purposes of establishing energy or water usage may be set at the minimum code level for replacement or addition of equipment. Again, 100% of the C-PACE-eligible measures and soft costs may be included in the financing.
Developers and Property Owners can retroactively finance with C-PACE within 730 days after installation or construction. Retroactive Projects must satisfy the same requirements as other C-PACE projects.
Visit the FAQs page or contact PEA to learn more about the C-PACE process.Learn More
What is C-PACE?
C-PACE is a financing structure that allows commercial property owners to borrow money for energy and water efficiency improvements and renewable energy installations via a special assessment similar to a property tax assessment.Learn More