Sometimes you need a loan for the biggest projects, but did you know that building or renovating with energy efficiency in mind can get you more favorable terms?
Check out these carbon-cutting loan options:
Did you know you can finance up to 100% of your commercial energy upgrade with C-PACE? The Colorado Commercial Property Assessed Clean Energy Program (C-PACE) matches businesses with private capital providers to provide low-interest loans for energy efficiency, renewable energy and water conservation projects – check here for eligibility requirements.
Assessment and Repayment
C-PACE financing repayment is facilitated through the County property tax assessment process. A voluntary assessment (similar to a sewer district assessment) is placed on the building owner’s property tax bill. The assessment is repaid over the financing term (up to 25 years) and the annual energy cost savings will, in most cases, exceed the annual assessment payment, thereby enabling capital-intensive equipment upgrades. Because the C-PACE assessment obligation runs with the property, the assessment can transfer to the next owner when the property is sold.
A fee equal to 2.5% of the project finance amount (not to exceed $50,000 per project) is assigned to each C-PACE project. This program administration fee, to cover the costs associated with the various support services required to sustain the C-PACE program, is typically included in the total financed amount and is only due when successful project financing is obtained.