| Program Name: | Commercial Property Assessed Clean Energy (C-Pace) Financing |
| Program Sponsor: | NYSERDA, Energy Improvement Corporation (EIC) |
| Program Type: | Financing |
| Technology: | Energy Efficiency/ Demand Response; Alternative Energy Generation/ Renewables |
| Fuel: | Fuel Neutral |
| Eligibility: | Commercial properties in participating municipalities |
| Cost: | None |
Description
Commercial Property Assessed Clean Energy (C-PACE) financing programs use authority given to a municipal corporation to offer financing for property owners to fund eligible energy efficiency and renewable energy projects on existing residential and commercial structures through a property owner’s voluntary agreement to have a special assessment or special tax charge placed on their annual property tax bill. This provides financing for these types of improvements over time without requiring the property owner to make a large upfront investment.
C-PACE Loan programs must be approved by the municipality in question, and the PACE lender must be approved by the PACE Loan administrator.
The Energy Improvement Corporation (EIC) is a New York State non-profit, local development corporation that operates EIC OPEN C-PACE for the benefit of its member municipalities, which includes towns in Westchester County.
A list of approved capital providers is available here.
Eligibility
Eligible energy efficiency and clean energy technologies include building enclosures, HVAC and controls, lighting, domestic hot water, demand response, energy storage, solar photovoltaic, combined heat and power, fuel conversion, deep energy retrofits, high-performance buildings, and other technologies and applications evaluated on a case-by-case basis.
Cities and towns in Westchester County with an OPEN C-PACE Program include Bedford, Cortlandt, Greenburgh, Harrison, Hastings-on-Hudson, Mount Kisco, New Castle, New Rochelle, North Salem, Ossining, Peekskill, Pelham, Rye, White Plains, Yonkers, and Yorktown.
How to Apply
The property owner, developer, or approved capital provider should complete the online EIC OPEN C-PACE Financing Application.
Information for becoming an approved capital provider is available here.
Contact Information
Questions can be directed to Sarah Smiley, Director of Member Services at EIC OPEN C-PACE, by email at ssmiley@eicpace.org or by phone at 914-302-7300 Ext. 8105.