Overview
Please note that while El Paso County now supports the C-PACE program being utilized in our region, it is a statewide program, and much of the content, development, and technical assistance occurs at the state level. If you have any questions, please contact the Colorado C-PACE Project Manager at (877) 325-1882 or info@copace.com.
Colorado Commercial Property Assessed Clean Energy (C-PACE) is a state initiative that helps building owners access private-sector financing to upgrade their building with energy efficiency, clean energy, and water efficiency improvements. This program is spearheaded by the Colorado Energy Office and overseen by the New Energy Improvement District, known as “NEID.” C-PACE offers up to 100 percent financing for existing building retrofit projects and up to 20 percent financing for new construction projects, with terms that extend up to 25 years. View the full C-PACE program guide by clicking the link in the resources section below.
Examples of Projects
- Insulation, windows, doors, air sealing
- HVAC, Energy Control Systems, and related
- Water conservation systems
- Lighting and related
- Energy recovery systems, green roofs
- Electric vehicle charging equipment at facility or parking lot
- Elevator and other mechanical projects
- Energy/water audit costs, closing fees, and related
Resiliency improvements are now eligible for the C-PACE program. Resiliency projects include an improvement to real property, facilities or equipment that:
- Increases a building’s structural resiliency for seismic events
- Improves indoor air quality, improves wind or fire resistance
- Improves stormwater quality or reduces on-site or off-site risk of flash flooding
- Improves or enhances the ability of a building to withstand an electrical outage
- Reduces or mitigates the urban heat island effect or the effects of extreme heat
- Reduces any other environmental hazard identified by the Colorado Department of Public Health and the Environment
An example of a project that utilized retroactive C-PACE financing in Colorado Springs is the U.S. Olympic and Paralympic Museum. Read about this project here: U.S. Olympic and Paralympic Museum Case Study.
Other examples of projects and case studies can be found here: Case Studies
Financing
Banks, credit unions, and specialty private capital firms, also known as capital providers, finance C-PACE projects. You can find a list of consenting financial institutions in Colorado here. Repayment is secured by a voluntary special purpose assessment that is recorded against the property and billed as a separate line item on the property tax bill.
First Steps
Interested businesses must fill out the C-PACE pre-qualification form, which can be found by visiting the CO-PACE Resources website. Contractors can register by also visiting the CO-PACE Resources website and downloading the “Contractor Registration Form.” The form can then be submitted using the instructions in the document.
If you have questions or require any assistance, please contact the Colorado C-PACE Project Manager at (877) 325-1882 or info@copace.com.