Yes, C-PACE (Commercial Property Assessed Clean Energy) financing can be used for renewable energy projects. It is specifically designed to provide low-cost, long-term financing for energy efficiency, water conservation, renewable energy, and other energy-related upgrades in commercial properties.
C-PACE financing offers several key benefits:
- Long-term financing: It provides financing terms that typically range from 10 to 30 years, aligning with the useful life of the installed equipment.
- 100% project cost coverage: In many cases, C-PACE can cover 100% of the project costs for eligible projects.
- Repayment structure: Repayment is made through a special assessment added to the property tax bill, which can be transferred to new property owners upon sale.
- Eligible projects: This includes installations of solar panels and other renewable energy systems, as well as energy efficiency improvements.
Overall, C-PACE provides a financing solution that supports renewable energy initiatives by offering extended payment terms without upfront capital, making it easier for property owners to invest in sustainable projects.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/can-c-pace-financing-be-used-for-renewable-energy-projects/
