C-PACER: Washington's new Clean Energy Financing Innovation
CPACER (Commercial Property Assessed Clean Energy financing) is a financing mechanism that allows commercial property owners to obtain funding for energy efficiency, renewable energy, and water conservation upgrades to their properties. Some of the benefits of CPACER financing include:
No upfront costs: CPACER financing provides upfront funding for energy efficiency upgrades, which means that commercial property owners don't have to pay for the upgrades out of pocket.
Long-term financing: CPACER financing typically offers long-term financing, with repayment terms of up to 20-30 years. This allows commercial property owners to spread out the cost of upgrades over a longer period of time.
Energy cost savings: Onsite solar, storage, and energy efficiency upgrades can help to reduce energy consumption, which can lead to lower energy bills for commercial property owners.
Increased property value: Onsite solar, storage, and energy efficiency upgrades can also increase the value of a commercial property, making it more attractive to potential buyers or tenants.
Environmental benefits: By reducing energy consumption, energy efficiency upgrades can also help to reduce greenhouse gas emissions and mitigate the impact of climate change.
Better tenant experience: Upgrades such as improved lighting and temperature control systems can also improve the comfort and well-being of building occupants, leading to better tenant satisfaction and retention.
Overall, CPACER financing provides a convenient and cost-effective way for commercial property owners to improve their buildings' energy efficiency and sustainability, while also benefiting from lower energy costs, increased property value, and a better tenant experience.
Shift Zero is a fantastic local non-profit that spearheaded bringing C-PACER to Washington State. Their landing page on this subject is an excellent resource: https://shiftzero.org/pace
Interested in learning more about how C-PACER could help to support your clean energy project? Let's keep the conversation going! Click here to get in touch.
- Markus and Callum