Yes, C-PACE (Commercial Property Assessed Clean Energy) financing can be used for both new construction projects and building retrofits. C-PACE allows property owners to finance up to 100% of the costs associated with energy efficiency improvements, renewable energy installations, water conservation measures, and in some cases, resilience projects, for both existing buildings and new developments.
Eligible Projects include:
- Energy Efficiency Improvements: Upgrades to HVAC systems, insulation, windows, lighting, and more.
- Renewable Energy Installations: Solar, wind, and geothermal energy systems.
- Water Conservation Measures: Water-efficient fixtures, irrigation systems, and water reuse projects.
- Resilience Measures: Seismic strengthening and wildfire hardening.
C-PACE financing is particularly advantageous as it provides long-term, low-cost funding options without requiring significant upfront capital. The repayment is typically tied to the property tax bill, making it transferable with property ownership.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/can-c-pace-financing-be-used-for-both-new-construction-and-building-retrofits/
