C-PACE (Property Assessed Clean Energy)
The Energy Improvement Corporation (EIC) of New York, a New York Local Development Corporation, has established a Commercial Property Assessed Clean Energy Program (C-PACE) to provide financing to property owners in participating municipal member jurisdictions throughout New York State. This allows eligible property owners in all its towns and villages in the county to apply for C-PACE financing.
Open C-PACE is not a bank loan and differs from traditional financing options:
- Financing is available for up to 100% of the project cost, or can be combined with other financing
- Competitive private financing from EIC-approved capital providers
- Customizable loan terms up to the expected life of the improvement (generally 20-30 years)
- Repayment is secured through a benefit assessment lien that runs with the property
- Projects must comply with NYSERDA’s Commercial PACE Guidelines
PACE financing is a public benefit, authorized through state and local law, which supports more sustainable and economically vibrant communities.
For more information, visit eicpace.org or call (914) 302-7300 x8114. To learn more about EIC's completed projects click here.