NC C-PACE

How to Join

Counties and cities in North Carolina may participate in the statewide C-PACE Program to support commercial, industrial, agricultural, and multifamily property owners with access to financing for efficient and resilient building improvements.

The EDPNC serves as the statewide administrator and works with private capital providers to assist interested commercial property owners in applying for C-PACE financing. Joining the statewide program does not expose a local government to any financial or legal liability. Once the necessary documents are executed for C-PACE financing, there is no other administrative involvement by the local government.

Three Simple Steps

Joining the C-PACE Program is a voluntary 3-step process, with support from the EDPNC:

Adopt a Resolution of Intent

Hold a public hearing

Adopt a final Resolution to join the C-PACE Program

Program Benenfits

Capital Provider Benefits

The NC C-PACE Program encourages the participation of a wide variety of capital providers that meet program requirements. There are many benefits to becoming an approved C-PACE Capital Provider or to add C-PACE to your existing repertoire of financial products. These include:

Low-cost funding – a new, cost-effective way to help customers fund needed capital improvements or construct a new building.
Assistance for contractors – a financing tool designed to help them sell more energy efficiency, renewable energy, water conservation, resilient, and stormwater management projects.
Ease of use – a consistent legal structure, uniform program guidelines and standards, and a single point of contact through the EDPNC, the Program Administrator.

Contractor Benefits

When property owners can access financing for longer terms than are typically available, substantial improvements in efficiency and resiliency become more affordable. Contractors can suggest C-PACE financing as a way for their clients to implement needed energy or resiliency upgrades that might otherwise be unaffordable. Demand for building efficiency and resiliency improvements will increase in a C-PACE-enabled jurisdiction due to benefits that include

More comprehensive energy projects – more owners may be motivated to expand on original project scopes.
Increase in the bottom line – companies can create a new line of business.
More financing options – contractors do not have to utilize their own line of credit to fund projects.
Increased impact – the opportunity to have a large-scale influence on growing the efficiency and adaptability of a community.

Local Government Benefits

C-PACE is an economic development tool structured to be cost-neutral for local governments and requiring little-to-no administrative resources. By making it more affordable for building owners to make major improvements to their buildings, local building stock is enhanced, which drives job creation. Energy and resiliency upgrades retain and attract new businesses by lowering utility costs, and in turn these upgrades generate higher property tax payments for local governments. In addition to supporting local governments in their efforts to achieve energy and emissions reduction goals, the benefits of the C-PACE program include:

Higher property values – Revitalized buildings improve property values, creating more revenue for local communities.
Economic growth – New development and construction projects stimulate the local economy.
Stronger communities – Conserving resources and building resiliency in infrastructure deliver positive impacts for everyone in the community.

Property Owner Benefits

One of the biggest barriers to converting potential projects to completed projects for efficiency and resiliency upgrades are the up-front costs. C-PACE financing typically requires little up-front investment, and qualifying improvements have a direct impact on property value. By making energy and water usage more efficient, owners experience lower operating costs in addition to the following benefits:

Lower annual payments via long-term, fixed interest rate financing.
Reduced capital expenditure budget as upgrades can be paid through operating savings.
Extended building lifespan while improving comfort.
C-PACE assessment transfers upon sale to the next property owner.