Commercial Property Assessed Clean Energy (CPACE) toolset

This webpage contains information and tools on innovative ways to finance clean energy projects on commercial, multifamily, and nonprofit buildings (excluding condos and properties with less than five dwellings). Implementation of C-PACE in Virginia localities is one of the VAEEC’s five policy recommendations outlined in our latest report titled “Why Energy Efficiency is a Smart Investment for Virginia.”  C-PACE loans are designed to be long-term loans (up to 20+ years) secured by a lien that has a priority status equal to a tax assessment, thus senior to a mortgage lien. By setting up a C-PACE program, a locality can enable private sector loans for 100% of total project costs by placing a special assessment lien on the property that the owner repays over time as part of his/her tax or utility bill.

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