C-PACE Financing
Empowering property owners to invest in efficiency, sustainability and resilience
Commercial Property Assessed Clean Energy (C-PACE) Financing helps commercial and industrial property owners fund efficiency improvements with no upfront costs. Financing is repaid through a voluntary property tax assessment, often with utility savings that offset annual payments.
Understanding C-PACE funding
C-PACE provides fixed-rate financing for building upgrades that reduce energy use, improve resiliency and enhance property value. With terms up to 25 years (subject to the weighted average useful life of the eligible improvements) and 100% financing available, owners can complete projects that would otherwise require significant capital.
Key benefits of C-PACE financing from Huntington
No upfront capital
Long-term, fixed rates
Positive cash flow potential
Transfers with the property
Supports deep retrofits
Eligible improvements
C-PACE supports a wide range of energy efficiency, renewable energy and resiliency projects, including:
- High-efficiency HVAC systems
- Lighting upgrades
- Boilers, chillers and central plants
- Solar PV and solar thermal systems
- EV charging stations
- Emergency power systems and microgrids
- Water conservation systems
- Building envelope upgrades, insulation, roofs and windows
- Energy management systems and controls
- Fire, seismic and stormwater resiliency
Available states
Huntington currently offers C-PACE financing in the following states, with the typical project size ranges from $800,000 to $10,000,000.
Midwest
South
West
How C-PACE financing works
- Identify potential eligible improvements and prequalify the project
- Structure financing with Huntington
- Obtain mortgage lender consent
- Complete the project
- Repay through a property tax assessment
C-PACE financing FAQs
C-PACE (Commercial Property Assessed Clean Energy) is a way for building owners to pay for energy related improvements. Owners borrow money for qualifying projects and repay it through a special charge on their property tax bill. If the property is sold, the repayment obligation stays with the building, not the owner. C-PACE is only available in states and local areas that have approved C-PACE programs.
C-PACE can be used for new construction, major renovations, retrofits, and in some cases refinancing (depending on state rules). It can cover up to 100% of project costs, including both construction and related soft costs. Eligible improvements often include HVAC systems, heat pumps, windows and doors, control systems, roofing, and solar panels.
C-PACE is tied to the property, not the property owner, and it is non-recourse to the owner. This means the obligation can be transferred to a new owner if the property is sold. C-PACE also offers long repayment terms, up to 25 years, based on the useful life of the improvements. Payments are typically made once or twice a year instead of monthly.
C-PACE is repaid through a voluntary special assessment on the property. Payments are usually made annually or semi-annually along with property taxes to the local government. In some states, payments are made directly to the C-PACE lender instead.
C-PACE is available to:
- Commercial and industrial property owners
- Owners making energy efficient upgrades
- Owner-occupied or investor-owned properties
- Properties located in areas with active C-PACE programs
Property owners must have enough equity and be current on mortgage and property tax payments. If there is an existing mortgage, the lender must approve the C-PACE assessment.
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Let’s talk about your project
Huntington’s equipment finance team can help you determine if C-PACE funding is the right fit for your property.