Energy Efficiency Financing
PACE Loan: Financing for $100,000 - $500,000
Property Assessed Clean Energy Financing or PACE is a mechanism that allows a commercial property owner to finance energy efficiency and renewable energy improvement projects through assessments on their real property tax bills. PACE will offer financing for projects from $100,000 - $500,000 and interest rates as low as 2.5%
STEP Loan: Financing for $5,000 to $100,000
Commercial property owners now have an additional NOPEC program to help finance smaller energy-efficiency and renewable energy projects, the STEP (Savings Through Efficiency Program) Loan program. Step offers financing for projects from $5,000 to $100,000 with a 3% interest rate.