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CPACE

Comercial Property Assessed Clean Energy - CPACE

Commercial Property Assessed Clean Energy (CPACE) is a program whereby commercial property owners can increase their bottom line while lowering their energy costs. The financing is offered through Energize NY which is a program of the Energy Improvement Corporation (EIC). EIC is a non-profit New York State local development corporation with a mission to scale the adoption of clean energy in New York State's buildings.

 

 

 

 

 

 

Here are just a few of the advantges of utilizing the CPACE program in New York State:

It's Easy

  • No upfront cost to upgrade your building
  • FInancing eligibility is based on your property's potential energy savings (not on traditional credit)
  • There is an online application process with a fast approval
  • The Energize NY team will help you at every stage of the improvement process

It's Convenient 

  • Up to 100% long-term financing at low interest
  • If the building is located in a municipality that is a member of EIC, the repayment obligation is attached to the property tax bill
  • The financial obligation is transferred to the new owner when the property is sold

It's Affordable

  • No down payment is required
  • Competitive rates from 4% to 6.5%
  • Flexible terms of 5 to 20 years (subject to market conditions)
  • Combines seamlessly with state and local energy incentive programs for additional benefits

For more information regarding Energize New York and CPACE please Click Here to visit their site.