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Property Assessed Clean Energy (PACE) Financing Now Available in Connecticut


C-PACE, Connecticut’s statewide property assessed clean energy (PACE) financing program launched late last month. C-PACE allows commercial, institutional, and multi-family building owners to access low-rate, long-term financing for energy upgrades. The obligation is repaid through a property tax assessment that is secured by the property, not the owner’s credit. The assessment stays with the property, even if it is sold to a new owner. A key provision to qualifying for C-PACE financing is that the energy project must be predicted to save more in energy costs than the owner must periodically pay back. This means that the owner will begin to obtain savings immediately after project completion.


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