Financing for Resilience with Commercial PACE
Commercial property assessed clean energy (CPACE) financing can be used to fund resiliency improvements that make buildings more resistant to natural disasters and other threats. Many of these projects have an energy component (e.g. energy efficiency, distributed generation, microgrid), but others do not (e.g. seismic retrofits, wind hardening). Current market trends point toward growing use of CPACE financing for resiliency, with the recent completion of several flagship projects including a $40 million seismic retrofit in California and the first-ever use of CPACE financing for a microgrid in Connecticut. At the same time, CPACE policies and programs are becoming more widespread across the United States, making it easier for more customers to access CPACE financing.
This toolkit provides an overview for building owners, operators, and occupants that may want to take advantage of CPACE financing to improve resiliency in their facilities.
TOOLSCommercial PACE Financing for Resiliency Fact SheetThis fact sheet explores how commercial property assessed clean energy (CPACE) financing can be used to fund resiliency improvements that make buildings more resistant to natural disasters and other threats.Hartford, CT, financed a $1 Million project through Greenworks Lending's Commercial PACE structure to implement energy efficiency, renewable energy, and microgrid improvements for a mixed-use building.Financing Seismic Retrofits at a Hospital Campus with CPACE Implementation ModelFinanced by CleanFund and Petros PACE Finance, this $40 million seismic and energy efficiency retrofit of the Seton Medical Center campus in Daly City, CA, is the largest in the history of CPACE financing to date.CPACE Financing for Hurricane-Proofing a Nursing Center Solutions at a GlanceFinanced by Hannon Armstrong, this $500,000 project in Pensacola, FL, included upgrades to the outpatient facility’s windows and roof that will allow it to resist hurricane-force winds while improving energy performance.This webinar explored how more developers and building owners are discussing resilient building design in response to the risk that natural and human events pose to energy systems.This webinar reviewed trends toward CPACE financing for resiliency, including three case studies that illustrate how you can take advantage of this rapidly growing financing mechanism.