Energy Efficiency Financing
A Smarter Way for Commercial Property Owners to Finance Energy Efficiency Projects
Property Assessed Clean Energy
The PACE loan is a powerful financing option for commercial property owners who are looking to complete a $100,000 - $500,000 energy efficiency or renewable energy project. By placing an assessment on the real property, PACE will extend financing anywhere from 5 – 20 years with interest rates as low as 2.5%.
Savings Through Efficiency Program
For commercial property owners who are looking to complete an energy efficiency or renewable energy project, the STEP loan is a great option.
With financing available from $5,000 to $100,000, property owners gain access to much-needed funds to help push projects across the finish line. The interest rate for STEP loans is only 3% with a 10-year term.
|A Quick Guide to STEP and PACE|
PACE LoanProperty Assessed Clean Energy
STEP LoanSavings Through Efficiency Program
|$100,000 to $500,000 up to 100% of eligible costs||How much can I finance?||$5,000 to $100,000 up to 75% of eligible costs|
|Up to 20 years||What is the loan term?||Up to 10 years|
|2.5% - 4%||What is the fixed interest rate?||3%|
Does Your Commercial Property Qualify?
The following commercial properties in a NOPEC community qualify for a STEP or PACE loan:
- Public Sector Facilities
- Private Sector Facilities
- Non-Profit Organizations
- Retail Businesses
- Industrial Buildings
- Apartment Buildings with five or more units
- Healthcare Facilities
- Religious Organizations