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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:
- 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
- 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
- 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.
It has been a pleasure meeting someone with passion for doing a job right. We have experienced two things with the blown-in insulation installed by The Insulation Man. We expected the first, but the second was a surprise.
Kent C., East Syracuse, NY