C-PACE (Commercial Property Assessed Clean Energy) financing is a tool designed to help commercial and non-profit property owners fund clean energy upgrades with minimal upfront costs.
The program allows property owners to repay the cost of energy-efficient improvements over 20-30 years through a benefit assessment lien on the property. This structure makes it easier for owners to invest in energy efficiency, renewable energy systems, and other green upgrades.
In New York State, C-PACE is administered by the Energy Improvement Corporation (EIC) across most municipalities, while the New York City Energy Efficiency Corporation (NYCEEC) manages the program in New York City through the NYC Accelerator PACE Financing program. Both organizations ensure that projects align with NYSERDA’s guidelines and enabling legislation, promoting sustainable development and energy efficiency across the state.
NY Green Bank (NYGB) is a New York State-sponsored investment fund at NYSERDA dedicated to filling financing gaps in clean energy and sustainable infrastructure markets. Its investments contribute to greenhouse gas emissions reductions, energy efficiency, clean energy generation, and the mobilization of private capital in key market sectors.
- Fact Sheet [PDF]
This fact sheet provides a brief description of the PACE Financing high-impact action along with the benefits communities can expect to achieve. - Energy Improvement Corporation Website
Energy Improvement Corporation is a New York State non-profit, local development corporation that operates EIC OPEN C-PACE for the benefit of its member municipalities, which include counties and cities across New York State, as well as towns in Westchester County. - NY Green Bank Website and Portfolio of Projects
NYSERDA Clean Energy Communities
Local governments in New York State can use the Clean Energy Communities program to implement clean energy actions, save energy costs, create jobs, and improve the environment. In addition to providing tools, resources, and technical assistance, the program recognizes and rewards leadership for the completion of clean energy projects.
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