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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.
I realized the first winter that I spent in my new home in Vestal New York that the insulation was insufficient. The house never had a warm comfortable feeling. The bedrooms above the garage were especially cold and the floors freezing to bare feet.
Richard F., Vestal, NY