C-PACE Financing Available for Commercial, Nonprofit Properties

The Greater Lockport Development Corporation has announced that commercial and non-profit building owners can now apply for financing to make energy upgrades to their buildings through a new program.

C-PACE (Open C-PACE (Property Assessed Clean Energy) is operated by Energy Improvement Corporation (EIC) and provides long-term financing for energy efficiency and renewable energy projects on commercially owned properties.

Open C-PACE is not a bank loan and differs from traditional financing options:

  • Financing is available for up to 100% of the project cost, or can be combined with other financing
  • Competitive private financing from EIC-approved capital providers
  • Customizable loan terms up to the expected life of the improvement (generally 20-30 years)
  • Repayment is secured through a benefit assessment lien that runs with the property
  • Projects must comply with NYSERDA’s Commercial PACE Guidelines

PACE financing is a public benefit, authorized through state and local law, which supports more sustainable and economically vibrant communities.

For more information, download a flier here, visit eicpace.org or call 914.302.7300, ext. 8114