Commercial Property Assessed Clean Energy (C-PACE)
Colorado C-PACE helps building owners finance energy improvements.
Resource Overview:
Eligibility: Business & Industry
Funding Amount: Varies
Colorado’s Commercial Property Assessed Clean Energy (C-PACE) is a financing tool for owners of commercial, industrial, multifamily, and agricultural properties. C-PACE allows a property owner to finance the cost of clean energy or other eligible energy efficiency improvements, paying the costs back over time with annual energy savings that exceed the annual assessment payment.
As of 2023, the C-PACE program has helped finance 120 projects in 39 Colorado counties, facilitating over $250M in private sector investment in clean energy improvements.
View C-PACE program website
For questions or additional program information, please contact:
Eric Cowan, Project Manager, at eric.cowan@state.co.us,
Michael Turner, New Energy Improvement District (NEID) Chair, at michael.a.turner@state.co.us.
Eligible Projects
Eligible property types include:
- Commercial
- Industrial
- Agricultural
- Non-profit organizations
- Multifamily (5 units or more)
With C-PACE financing, Colorado property owners can finance up to 100% of the cost of eligible projects, including:
- Energy audits and renewable energy feasibility studies
- Energy efficiency improvements
- Renewable energy improvements
- Water Conservation improvements
- Resilience measures
Property owners can use financing for both existing and newly constructed buildings.
View map of C-PACE participating counties
View list of C-PACE participating counties
How does C-PACE work?
Colorado C-PACE provides financing for eligible energy efficiency, water conservation, and renewable energy improvements. As a result, the program makes investing in newer, cleaner technologies more cost efficient for owners.
- Financing is repaid through a voluntary special assessment (lien) on the owner’s property tax bill.
- The lien attaches to the property and transfers with ownership.
- Owners can select long-term financing (up to 20 years) for as much as 100% of improvement costs. This arrangement spreads the cost of clean energy improvements over a longer period than traditional debt financing.
Property owners can also arrange financing directly with one of the program’s capital providers, or can secure their own capital provider to purchase the Colorado C-PACE lien.
Still have questions? Watch this video on C-PACE financing.
Watch Video
Colorado New Energy Improvement District
The Colorado New Energy Improvement District (NEID) is responsible for establishing, developing, implementing, and administering C-PACE. A Board of Directors governs the NEID. This board includes the Colorado Energy Office Director (or their designee) and six other governor-appointed members. The board members represent experiences working in energy efficiency, renewable energy, commercial real estate development, banking and finance, and the utility industry.
View Board Members on the NEID website
