Commercial Property Assessed Clean Energy (C-PACE) is a state policy-enabled financing mechanism that allows building owners and developers to access the capital they need to make energy related deferred maintenance upgrades in their existing buildings, cover up to 20% of the cost of new construction, and make renewable energy accessible and cost-effective.
C-PACE makes it possible for commercial property owners to obtain low-cost, long-term financing for energy efficiency, water conservation, and renewable energy projects. Most commercial property types qualify for C-PACE financing. The program starts with a state-level government policy that classifies clean energy upgrades as a public benefit — like a new sewer, water line or road.

These upgrades can be financed with no money down and then repaid as a benefit assessment on the property tax bill over a term that matches the useful life of improvements and/or new construction infrastructure (typically ~20–30 years). The assessment transfers on the sale of the property and can be passed through to tenants where appropriate.