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Energy Efficiency Financing

A Smarter Way for Commercial Property Owners to Finance Energy Efficiency Projects 

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PACE Loan

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%.

 

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STEP Loan

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 $125,000, 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. 

 

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"As a small business owner desiring to upgrade my property and cut my expenses, NOPEC's STEP program was a perfect solution. I was able to make expensive capital investments, at a low-interest rate, that were good for both my bottom line and the planet. Their streamlined and simple application process made this a fast and easy alternative to other financing options out there." 

-Amanda Mayan, MAN Holdings

A Quick Guide to STEP and PACE

PACE Loan

Property Assessed Clean Energy
Loan Type

STEP Loan

Savings Through Efficiency Program
$100,000 to $500,000 up to 100% of eligible costs How much can I finance? $5,000 to $125,000 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%
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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 
  • Offices
  • Industrial Buildings
  • Apartment Buildings with five or more units
  • Schools
  • Healthcare Facilities 
  • Religious Organizations
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