How Arlington C-PACE works for you
Arlington C-PACE for Building Owners
Looking to modernize your building? Arlington County has a new program for you that:
- Requires no upfront, out-of-pocket costs
- Lowers your energy use and costs
- Provides long-term financing—up to 25 years
- Requires no personal guarantee
- Generates positive cash flow in well-designed projects
Sound too good to be true? It’s not. Across the country, building owners are taking advantage of C-PACE to install the energy efficiency and renewable energy upgrades they’ve been putting off, making their buildings more comfortable, more valuable, and more attractive to tenants. Thanks to Arlington County, this innovative program is now available here!
What is C-PACE?
Commercial property assessed clean energy, or C-PACE, is a voluntary program that enables commercial building owners to finance up to 100% of eligible energy efficiency, renewable energy, and water efficiency improvements with affordable, long-term, non-recourse financing. The financing is provided by private capital providers at competitive rates and, because it is tied to the property, the owner is not required to sign a personal guarantee.
Upon finance closing, a voluntary special assessment (similar to a sewer district assessment) is recorded on the improved property to secure the investment. The special assessment is then billed and collected by the capital provider and repaid by the building owner over the financing term. In most cases, the energy cost savings exceed the PACE payments, enabling capital-intensive equipment upgrades and cash-flow-positive projects. And because the assessment is tied to the property, and not the owner, the repayment obligation can transfer to the next owner if the property is sold.
To get started, you’ll work with your contractor to discuss the energy efficiency upgrades that would be beneficial for your building. Next, your contractor and the program administrator will prepare a report that will help you decide whether the proposed project meets your needs and whether C-PACE financing makes sense. The free, no-obligation PACEworx™ Report includes the:
- Key assumptions behind the technical and financial analytics
- Cost of the eligible improvements
- Projected energy use and cost savings
- Projected cash flows
The methodology used to develop the projections is based on the Investor Confidence Project best practices protocol. No commitment is required until you are satisfied with the project’s technical and financial projections.
Ready to modernize your building? Contact us today to discuss your project.