A Guide to C-PACE

CHAPTER TWO:
CIRRUS C-PACE Finanacing

Lower-cost capital. Improved efficiency. Stronger returns.

CIRRUS C-PACE Financing

Offered exclusively by PACE Equity Finance, CIRRUS is the only private capital program that provides a lower cost of capital for more efficient buildings. Projects built to green building certification standards, or the PACE Equity Finance proprietary CIRRUS design specification, qualify for a substantially lower cost of capital over standard C-PACE rates. By offering this innovative program to reward sustainable development, PACE Equity Finance pairs sustainability with enhanced profitability.

Qualifying for CIRRUS Financing

CIRRUS Low Carbon is available for new developments, retrofits, renovations, redevelopments, and recapitalization opportunities. There are three ways to qualify for CIRRUS C-PACE financing.

Path One: Prescriptive Checklist

CIRRUS Low Carbon’s prescriptive path is built on ASHRAE 90.1 – 2019 + 10%. Qualifying projects meet the mandatory measures detailed below, as well as two additional efficiency measures.

New Construction

Mandatory Measures:
ALL are required

ASHRAE 90.1-2016 Baseline
Building Envelope Improvement
HVAC Improvement
Efficient Water Heating Equipment
WaterSense® Plumbing Fixtures
Efficient Interior Lighting and Controls
Efficient Exterior Lighting and Controls
ENERGY STAR® Efficient Appliances

Additional Efficiency Options:
TWO are required

High Performance Envelope
High Performance Fenestration
Reduced Thermal Bridging
Air Barrier Continuity
High Performance HVAC
High Performance Hot Water Heating
Enhanced Interior Lighting Controls
Advanced Metering and Energy Monitoring
Electric Vehicle
Low Carbon Concrete
Colar / Renewable Energy

Redevelopment or Renovation projects require that a minimum of two mandatory measures be improved and one optional measure.

Path Two: Greenhouse Gas Performance

As an alternative to prescriptive compliance, buildings may demonstrate an 8% reduction in greenhouse gas emissions over a 2016 baseline model. CIRRUS Low Carbon follows ASHRAE 90.1 – 2016 Appendix G for this approach, with projected energy savings converted to carbon emissions using eGrid and direct emission conversion factors.

Path Three: Green Building Certifications

Available for buildings in the process of receiving a green building certification or that have already received one. The following programs automatically qualify for CIRRUS Low Carbon’s lower cost of capital:

LEED Silver & above from USGBC