Commercial Property Assessed Clean Energy (C-PACE)
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Commercial property assessed clean energy (C-PACE) is a means of financing energy and/or water efficiency, renewable energy, resiliency, or environmental remediation measures in commercial buildings with no up-front cost. C-PACE loans are treated as a tax assessment on the property for the value of the installed equipment, and are repaid through property tax bills. Loan terms are typically 10-20 years in length.
Because a C-PACE loan is a property tax assessment, this means that it remains affixed to the property itself and not to the property owner. In the event that the property is sold, the C-PACE loan becomes the responsibility of the new owner and the prior owner is no longer obligated to make payments.
Eligible Measures:
- Energy efficiency
- Renewable energy
- Water efficiency
- Resiliency
- Environmental remediation
A Maryland county must first pass legislation that authorizes C-PACE to be made available within the county.
To date, 19 of Maryland’s counties have enacted C-PACE-enabling legislation. The Montgomery County C-PACE Program and Prince George’s County C-PACE Program are administered independently. All other counties’ C-PACE programs are administered through MDPACE, which is managed by the Maryland Clean Energy Center.
C-PACE Resources:
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Case Studies: Review case studies on buildings across various sectors such as offices, multifamily, non-profits, mixed-use, religious institutions, warehouses, and more.
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PACENation: A national non-profit association that advocates for PACE financing. Takes part in advocacy and market development, provides information and resources, coordinates events, and offers member support.
