C PACE Financing for Commercial Property Improvements
Explore Commercial Property Assessed Clean Energy financing for qualifying energy, water, renewable energy, and resilience projects, subject to the rules of the active local program.
What Is C PACE Financing?
C PACE, short for Commercial Property Assessed Clean Energy, is a project financing structure for qualifying improvements to commercial property. Depending on the jurisdiction, eligible work may include energy efficiency, renewable energy, water conservation, flood or wind resilience, seismic improvements, and other approved public benefit measures. Repayment is generally collected through a voluntary assessment on the property's tax bill, and a lien is placed on the property. The assessment, lien treatment, eligible improvements, savings tests, leverage limits, and transfer rules vary by state and local program. Existing mortgage lender consent is commonly required. As of August 2026, program sources including the U.S. Environmental Protection Agency, PACENation, Texas PACE Authority, the Florida Development Finance Corporation, Connecticut Green Bank, and Peach State C PACE show active C PACE activity in the CapitalAx markets described on this page. CapitalAx is a commercial loan broker and platform, not a C PACE lender. We help owners organize a request and determine whether a potential program or capital source may fit the property and project.
Where C PACE Is Available
Availability checked August 2026. An active program can review projects in participating jurisdictions. Enabling legislation alone does not mean a property is currently eligible.
Texas
Active in participating local jurisdictions
The property must be in an established Texas PACE region, and the proposed measures must meet program requirements.
Florida
Active program with property and local eligibility review
The Florida Development Finance Corporation describes C PACE access for eligible commercial, industrial, multifamily, and nonprofit property.
Connecticut
Active program with municipal and project requirements
Connecticut Green Bank guidelines cover eligible property and projects, lender consent, assessment administration, and program review.
Georgia
Active in participating jurisdictions
Peach State C PACE reports active programs and additional jurisdictions with enabling legislation. Property location must be checked before relying on availability.
Key Terms
Who Is It For
- Commercial property owners planning qualifying energy, water, renewable energy, or resilience improvements
- Multifamily, hospitality, industrial, office, retail, and mixed use owners evaluating a project with a long useful life
- Developers incorporating qualifying improvements into a new construction or major renovation budget where the local program permits it
- Owners comparing C PACE with senior debt, bridge financing, construction financing, or sponsor equity
- Borrowers who need to confirm local program availability and coordinate existing mortgage lender review before pursuing a C PACE structure
Common Use Cases
- Energy efficiency improvements to an existing commercial building
- Solar, renewable energy, or building electrification projects where approved by the applicable program
- Water conservation, stormwater, flood, wind, seismic, or other resilience improvements where eligible
- Qualifying improvements included in new construction or a major renovation when the jurisdiction allows them
- A project capital stack that combines C PACE with senior mortgage, bridge, construction, or other financing
Borrower Scenarios
- A multifamily owner is evaluating a qualifying building improvement project and needs to understand whether the local C PACE program permits the proposed work, how the assessment would affect the property budget, and what the current mortgage lender requires.
- A developer is planning a new mixed use project and is comparing a permitted C PACE structure with construction debt and sponsor equity before finalizing the capital stack.
- An industrial property owner is reviewing energy and water improvements that may reduce operating costs over time, while coordinating project documentation, contractor requirements, and lender consent.
- A hospitality owner is considering eligible resilience improvements and wants to compare a C PACE assessment with bridge financing or a future permanent commercial mortgage without assuming that any structure will be approved.