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Commercial Property Assessed Clean Energy (PACE) Financing Resources

 

NYSERDA’s Commercial Property Assessed Clean Energy (PACE) Guidance Document provides guidance on implementing PACE in New York State, as required by New York State General Municipal Law Article 5-L.

This Guidance Document is for commercial and multifamily buildings only. While certain portions of this guidance may be applicable in the single-family residential sector, NYSERDA does not suggest that this guidance be used for single-family residential PACE financing. NYSERDA may issue additional guidance in the future regarding PACE in the single-family residential sector.

What is PACE Financing?

PACE financing programs use authority given to a municipality to offer financing for property owners to fund energy efficiency and renewable energy projects on existing commercial structures. The property owner voluntary agrees to repay the financing through a special assessment. PACE provides financing for these types of improvements over time without requiring the property owner to make a large upfront investment.

Pace Financing Through EIC

PACE financing is available through the Energy Improvement Corporation’s Energize NY OPEN C-PACE program (EIC).

Energy Improvement Corporation is a New York State non-profit, local development corporation that operates EIC OPEN C-PACE for the benefit of its member municipalities, which include counties and cities across New York State, as well as towns in Westchester County.

Please visit us at www.eicpace.orgLink opens in new window - close new window to return to this page.