Program Overview
Commercial Property Assessed Clean Energy (C-PACE) provides long-term, fixed-rated financing for building upgrades in commercial and industrial properties. By financing with C-PACE, businesses eliminate the need for upfront capital and generate immediate positive cash flow.
Benefits of C-PACE include:
- Finance up to 100% of project hard and soft costs
- No personal guarantees
- Long-term financing (up to 25 years)
- Lower utility bills
- Owner retains all tax incentives
- Works with utility incentives
- Easily transferred upon property sale
How it Works
Project types that are eligible for 100% C-PACE financing include, but are not limited to:
- Energy efficiency
- Renewable energy
- Water conservation
- Alternative fuel infrastructure (e.g., electric car charging stations)
- Environmental health and safety projects (e.g., asbestos or lead abatement)
Commercial and industrial properties that are eligible for C-PACE financing include:
- Office buildings
- Manufacturing facilities
- Agricultural
- Non-profit
- Multifamily (5+ units)
Both existing properties and new construction projects are eligible for C-PACE.
Eligible Communities
The following communities have opted into C-PACE:
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If your community isn’t listed, your project may still be eligible for C-PACE. Please contact Toby Ast at tast@riib.org to learn more.
C-PACE Capital Providers
RIIB sponsors and administers the C-PACE program in RI. Project financing is provided by our approved Capital Providers, listed below:
- Bayview PACE
- Centreville Bank
- CleanFund Commercial PACE Capital, Inc.
- Counterpointe Sustainable Real Estate LLC
- Enhanced PACE Finance, LLC
- LordCap PACE
- Nuveen Green Capital
- PACE Loan Group
- Petros PACE Finance, LLC
- Twain Financial Partners
- Western Alliance Banc
- White Oak Global Advisors LLC
