DC PACE FOR BUILDING OWNERS
PACE financing can provide a valuable source of up-front capital to finance clean energy projects and fund the repair and replacement of critical capital equipment within your building. Learn how DC PACE can help meet your building needs.
BENEFITS FOR BUILDING OWNERS
REDUCE UTILITY BILLS
- Cut energy, water, stormwater and sewer fees
- Realize savings immediately
- Hedge against rising prices
IMPROVE CASH FLOW
- Up to 100% financing with no money down
- Increase net operating income immediately
- Reduce O&M costs
LOWER CAPITAL COSTS
- Use PACE to displace owner's equity and expensive mezzanine debt
- Fixed and adjustable rates at long terms (up to 20 years or more)
- Compatible with most tax incentives and rebates
EXTEND CAPITAL BUDGETS
- Address deferred maintenance needs
- Preserve capital replacement reserves
- Solve gaps in project funding
INCREASE PROPERTY VALUE
- Improve tenant comfort
- Command higher lease rates
- Potentially off-balance sheet investment
- Increase Energy Star score and LEED rating points
- Reduce building carbon footprint & create green jobs
- Install clean energy improvements like solar
BUILDING OWNER RESOURCES
IS MY PROJECT ELIGIBLE FOR PACE?
ELIGIBLE PROPERTY TYPES
Eligible Property Types
Commercial real estate, from offices to retail to mixed-use properties all qualify for PACE financing.
Multifamily residential (five or more units), including rental apartments and many coops, are eligible for DC PACE. Condominiums are often a challenging fit for PACE, but under certain circumstances they may qualify.
Large non-profit and for-profit institutions such as universities and hospitals can take advantage of DC PACE financing.
Industrial properties, including manufacturing facilities, warehouses, and other sites qualify for DC PACE.
Most non-profit properties, including schools (private and charter), houses of worship, and community institutions qualify for DC PACE, even if you do not currently pay real estate taxes.
ELIGIBLE PROJECT TYPES
Eligible Project Types
Clean energy generation technologies including solar PV, solar thermal, geothermal, and co-generation / tri-generation systems can all be funded with PACE. Related infrastructure costs, such as roof repairs needed to support solar and upgrades to electrical or thermal distribution infrastructure may also be eligible.
PACE can be used to finance windows, insulation, cool roofing, weather sealing, and other envelope improvements.
A wide range of heating, cooling, and ventilation equipment can be financed with PACE. Examples include boilers and chillers, VRF/VRV systems, rooftop units, building controls, heat recovery and steam traps, variable speed drives, domestic hot water systems, fuel switching, and more.
Energy efficient indoor and outdoor lighting, lighting controls, and day-lighting solutions are all eligible for PACE.
PACE can fund water-saving fixtures, such as low-flow faucets, showers, and commodes. Other water conservation measures such as grey-water harvesting or water-conserving irrigation can also qualify.
Measures that are intended to reduce and retain stormwater run-off are eligible for DC PACE. Examples include green roofs, retention ponds, permeable paving, cisterns, and bioswales.
Soft costs such as engineering and design fees, the cost of energy audits and other predevelopment expenses can be financed with PACE. In many cases, the PACE financing can be used to reimburse property owners for eligible soft costs incurred and paid out-of-pocket prior to closing.