C-PACE 101

C-PACE (Commercial Property Assessed Clean Energy) is a low-cost, non-recourse financing option for projects that improve a building’s energy performance or resilience against natural disasters. C-PACE is an alternative to more expensive options like mezzanine loans, debt funds and outside equity. C-PACE loans are repaid through a special tax assessment on the property, with terms up to 30 years. C-PACE is available for commercial, multifamily, and industrial buildings only.

C-PACE can finance new construction, gut rehabilitations, renovations, and simple upgrades – and it can be used to recapitalize or refinance completed projects. Eligible measures include energy systems (HVAC, lighting/, electrical, elevator modernization, solar), building envelope upgrades (roof, windows, doors, insulation), water conservation, plumbing, and resilience measures like seismic, wildfire, or hurricane hardening.

Yes — C-PACE can refinance higher-cost debt or capital that was used for eligible improvements, providing better long-term terms and freeing up equity for other priorities.

Up to 100% of eligible hard and soft costs — including design, engineering, permits, and other related expenses.

Repayment terms can extend up to 30 years, with low-cost fixed or variable rates (variable rates are not available in some states).

Yes — once construction is complete, C-PACE financing is non-recourse, which means the obligation stays with the property, not the owner personally.

C-PACE is typically used alongside other financing. It can reduce the equity needed for a project or replace higher-cost debt, helping sponsors increase returns and ease the equity raise process.

Sample projects include new hotel construction, elevator modernization for an existing office, solar array installation, adaptive reuse of a historic building, or an HVAC and roof upgrade for a warehouse.

FASTPACE is a full-service, tech-enabled C-PACE lending platform with a network of over 40+ lenders. We help borrowers secure flexible capital for all types of projects — including specialty assets and retroactive financings — while keeping transaction costs low and the process efficient.