Commercial Property Assessed Clean Energy Program

About the Program

Category: Financial Management (Best in Category)

Year: 2017

Montgomery County, Maryland’s Commercial Property Assessed Clean Energy (C-PACE) is a clean energy program that authorizes commercial property owners to make energy efficiency and renewable energy upgrades to their buildings through innovative financing. Under C-PACE, energy saving upgrades are considered a public benefit and this program allows these upgrades to be funded though the County’s annual property tax assessment process. CPACE financing is secured by the qualified property and repaid through the property tax bill over the life of the upgrade (up to a 20-year term). Not only does this program help the County achieve its green initiative goal of reducing greenhouse gas emissions 80 percent by 2050, it lowers property energy expenses and makes buildings more inviting to tenants and consequently, makes them more valuable. The County completed the program’s first project in February of 2017, which is also the first C-PACE project to be completed in the State of Maryland.