PACE Loans in Boston and the State of Massachusetts

Building Emissions Reduction and Disclosure Ordinance: Boston enacted the Building Emissions Reduction and Disclosure Ordinance (Chp.VII, Sec 7-2.1 & 7-2.2) in 2021, requiring all public, government, commercial, multifamily, and residential buildings of a certain size to reduce greenhouse gas emissions. The city aims to reduce emissions by 50% by 2030 and achieve net-zero emissions by 2050. Performance is measured by annual greenhouse gas (GHG) emissions (kgCO2e/sq. ft./year). Building targets are set by building type on an emissions intensity basis, and buildings must meet these targets annually starting in 2025, with increasing stringency every five years. Building owners can apply for individual compliance schedules to achieve the 50% and 100% reduction goals using a 2005 or later baseline.

PACE Equity financing can be used to cover 100% of the costs for renovations and retrofits pertaining to energy efficiency measures. Our in-house engineers, working in our Low Carbon Center of Excellence, are experts in low carbon building design and optimization. When you work with PACE Equity, we can help you fund the upgrades you need to do to comply with EUI targets. Receive our lowest rate for commercial renovation projects with our CIRRUS fund, our one-of-a-kind C-PACE program that offers lower interest rates for developments built to a low carbon engineering specification. When you renovate to meet EUI requirements, CIRRUS and its lower rates can be a great solution. For more information Building Performance Standards visit the Institute for Market Transformation website.