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.org