Many renovators and developers take advantage of Commercial Property Assessed Clean Energy (C-PACE) financing to not only bring their properties up to code, but add forward-looking green technology to lower the carbon footprint. But what is C-PACE financing and which upgrades do you need to install to take advantage of tax breaks?
C-PACE Financing Installations
The guidelines for green technology are very specific for C-PACE financing. Installing a few solar panels may not put you in the running for the financing you want. C-PACE financing requires at least one of the following:
- Building Controls: Installing automated control systems reduce electricity costs, as well as maintenance. Automated controls, such as thermostats and lighting timers, can greatly reduce
- Building Insulation: Double-paned windows, glazing, insulation, and even soundproofing can save energy costs up to 40%.
- Boilers and Chillers: High-efficiency boilers and chillers (including tankless water heaters) operate at up to 40% higher efficiency than traditional water heaters and furnaces used in properties.
- High-Efficiency Lighting: Removing neon, halogen, and traditional lighting in a commercial property and replacing them with LEDs can lower electrical costs significantly. Additionally, LED lighting lasts longer.
- Water Heating: High-efficiency water heating systems can lower costs by up to 30%. At the same time, high-efficiency systems conserve water, lowering energy and water bills tremendously.
- HVAC: HVAC systems have come a long way, especially since the COVID-19 pandemic. New circulation and filtration systems reach efficiency ratings upwards of 97% while reducing utilities by up to 50% without compromising comfort levels.
- Resiliency Measures: No place is unaffected by storms and harsh weather changes. Protecting your building against the elements – such as up to a Cat-3 hurricane, blizzard, wind sheer, etc. – will help to insulate your commercial property against damage, protect tenants, guard against equipment damage, and reduce overall costs.
- Water Conservation: Catch tanks, low-flow toilets, and more can conserve water, reduce wear and tear on plumbing, and greatly lower operational costs.
Qualifying for C-PACE Financing
GM Capital Group specializes in C-PACE financing. If you are looking to upgrade your commercial properties, or if you are taking on a new construction project and need financing to go the extra mile and take advantage of big savings from installing C-PACE technology, contact our offices today. GM Capital Group can provide the financing you need.