What is C-PACE Financing?

C-PACE is a financing mechanism that allows commercial property owners to fund energy-efficient upgrades and renewable energy projects, including solar installations, through a voluntary assessment on their property tax bill. This innovative financing tool is specifically designed to help businesses like yours overcome the upfront costs associated with energy-efficient improvements. By leveraging the C-PACE program, your business can invest in sustainability with manageable repayment terms aligned with the expected life of the improvements and often without any upfront capital requirement.

How Does C-PACE Financing Work for Solar Installations?

With C-PACE financing, you can partner with Rocky Top Solar to design and install a solar energy system for your East Tennessee business. The cost of the system is then repaid through a voluntary assessment on your property tax bill over a period of 10-30 years, typically 25 years. This longer repayment term and fixed interest rate provide a low-cost financing solution that can help you achieve significant energy savings and increase your property value. Additionally, the increase in your property’s value and the energy savings generated often offset the repayment, making C-PACE a financially advantageous option for commercial property owners looking to upgrade their energy systems.

Benefits for Solar Installations

1. No Upfront Costs

With C-PACE financing, you can install a solar energy system without any upfront costs or out-of-pocket expenses.

2. Long-Term Savings

By locking in a fixed interest rate and repayment term, you can enjoy significant energy savings over the life of the system.

3. Increased Property Value

A solar energy system can increase your property value and attract tenants who value sustainability.

4. Risk-Free

The C-PACE assessment is tied to the property, not the business owner, so you can transfer the assessment to a new owner if you sell the property.

5. Easy to Qualify

C-PACE financing is available for a wide range of commercial properties, including office buildings, retail centers, industrial facilities, and more.

How to Qualify for C-PACE Financing in East Tennessee

To qualify for C-PACE financing, your East Tennessee business must meet the following requirements:

Property Type: Commercial, industrial, agricultural, or multifamily residential properties are eligible.
Credit Score: A minimum credit score of 650 is typically required.
Debt-to-Equity Ratio: Your business must meet a minimum debt-to-equity ratio requirement, which varies by lender.
Property Value: The property must have a minimum value of $500,000.

Rocky Top Solar: Your C-PACE Financing Partner

At Rocky Top Solar, we’re dedicated to helping East Tennessee businesses like yours achieve energy independence and reduce their environmental footprint. Our team of experts will work with you to design and install a solar energy system that meets your unique needs and budget. With C-PACE financing, we can help you overcome the upfront costs associated with solar installations and start saving money on your energy bills today.

Get Started with C-PACE Financing for Your East Tennessee Business

If you’re interested in learning more about C-PACE financing for your East Tennessee business, contact Rocky Top Solar today. Our team will guide you through the application process and help you determine if C-PACE financing is right for your business.

Frequently Asked Questions

Is C-PACE only available for new construction projects?

No, C-PACE can be used for both new construction and retrofit projects.

Can I use C-PACE for other energy-efficient upgrades, such as HVAC or lighting?

Yes, C-PACE can be used for a wide range of energy-efficient upgrades, including HVAC, lighting, and more.

How do I know if my property is eligible for C-PACE?

Contact Rocky Top Solar to determine if your property meets the eligibility requirements for C-PACE financing.