WASHINGTON, July 19, 2018 /PRNewswire/ -- C-PACE Alliance announced today an upcoming U.S. Department of Energy (DOE) webinar on Commercial Property Assessed Clean Energy (C-PACE) that will feature the Alliance's best practices on how programs are designed and administered. The webinar will take place on July 24 at 2 p.m. Eastern. Register here.
C-PACE programs allow commercial property owners to borrow the full cost of building improvements—energy efficiency, renewable energy, and resiliency upgrades—and repay the financing through an assessment added to the regular property tax bill.
"C-PACE is unusual because it's not a top-down national program and because no government funding is involved," said C-PACE Alliance Executive Director Cliff Kellogg. "Instead, each state and local government creates its own program. That's why our members want to share our experience on what works to encourage more transactions."
Presenters from C-PACE Alliance and other speakers will discuss C-PACE design elements such as: technical standards; the roles of the capital provider and program administrator; and marketing. C-PACE Alliance will present its best practices paper, already a reference used by policymakers in New York City, Virginia, Pennsylvania and New Jersey.
The webinar is part of a curriculum DOE developed for the C-PACE Working Group, a collaboration of state and local governments learning how to launch and refine C-PACE financing programs. The goal is to stimulate $60 million in C-PACE investments by 2022.
"I look forward to collaborating with other leaders in the C-PACE market to help spread the word about this important initiative," said Petros PACE Finance Co-Founder & CFO Jim Stanislaus, a featured speaker of the webinar.
C-PACE is a new financing mechanism that can fund up to 25% of the total value of property. To qualify, the project must include energy and/or water-efficient components designed to minimize utility consumption at the property or generate power on-site. C-PACE financing has emerged as a low-cost alternative to mezzanine debt and equity, and is offered on non-recourse, non-accelerating, fixed-rate terms up to 30 years.
C-PACE Alliance is a coalition of capital providers and transaction experts committed to achieving the public benefits of C-PACE by increasing the volume of quality transactions. C-PACE Alliance supports the broader industry-building efforts of PACE Nation.
Media Contact: Cliff Kellogg
SOURCE C-PACE Alliance