Financing a Sustainable Tomorrow
How the Commercial Property Assessed Clean Energy Program May Benefit Your Business
Commercial property assessed clean energy financing (C-PACE, often referred to in Delaware as D-PACE) is long-term financing for the installation of qualifying energy improvements to commercial real estate, secured by special assessments levied on the real estate itself. D-PACE allows financing for energy improvements for up to 25 years—longer than the terms of commercial mortgage loans and the typical duration a commercial property is owned.
In 2018, Delaware joined other states in passing legislation for D-PACE. The statute, based on Connecticut’s C-PACE program, is captioned “Delaware Voluntary Clean Energy Financing Program Based on Property Assessments (D-PACE) or Other Local Assessments” and is found in Delaware Code Title 29, Section 8061, part of the Delaware Energy Act. READ MORE
