What 2020 could look like for C-PACE financing

After Commercial Property Assessed Clean Energy (C-PACE) financing had “its best year ever” in 2019 with approximately $677 million in investments, this year “was shaping up to be the strongest yet” for the program before the COVID-19 pandemic, cpexecutive.com reports. Cliff Kellogg, executive director of C-PACE Alliance, “a network of C-PACE industry stakeholders,” said in the article it’s “too difficult to predict how the volume will compare to last year.” Two of the largest C-PACE lenders, Petros PACE Finance and Greenworks Lending, agree. Mansoor Ghori, co-founder and CEO of Petros, noted, “banks may pull back a little bit on lending and create more space in the capital stack for C-PACE to fill in some of the gaps.” Kellogg also noted that C-PACE investments will increase because “more states are approving enabling legislation.” Ohio has had the second highest amount of C-PACE financing activity, with a total of about $224.5 million. For more, read the full article.

Economic Development, Energy Efficiency, Project Finance, State Updates