Commercial Property Assessed Clean Energy (C-PACE) is a legislated public/ private partnership that was approved in Utah as a financing tool to encourage energy efficiency with long-term, low-rate, non-recourse funds. C-PACE financing can be used for new construction, redevelopment, renovation, refinancing, and renewable energy projects.
$63.3 million C-PACE financing allows luxury ski resort to complete construction without raising additional equity. Deer Valley, Utah.
Utah C-PACE is the statewide program. Utah C-PACE is managed by the Utah Office of Energy Development (OED) and administered by Sustainable Real Estate Solutions (SRS). The financing is secured through a voluntary energy assessment and assignable lien that is levied against the owner’s property and is repaid to the capital provider. The financing term is based on the useful life of the improvements and can extend up to 30 years.
