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General Information and Structure

Connecticut Green Bank
Lending Type: 
Green Bank

Commercial Property Assessed Clean Energy (C-PACE) enables building owners to pay for clean energy improvements or clean energy production projects over time through a voluntary benefit assessment on their property tax bills. This process makes it easier for building owners to secure lowinterest capital to fund energy improvements and is structured so that energy savings more than offset the benefit assessment.

Active or Closed Program?: 
Years Offered: 
2011 - Present
Eligibility Criteria: 
5+ units (best suited to 100+ units). Income eligible and market rate can qualify.
Type of Financing: 
Loan Size Range: 
No limits (max of $300,000 for boiler life loan)
Type of Improvements Covered: 
Energy Efficiency, renewable energy, health and safety, water efficiency

Financing Details

When is the Product Applicable?: 
Interest Rate: 
Rates vary with terms. Please contact CT Green Bank for details.
Up to 25 years
Secured - tax lien


Impact : 
Total of 5 multifamily properties (>5 units) have participated in C-PACE since program inception as of June 30 2017. Square footage covered is 177,889 SF.

Additional Information

Point of Contact: 
[email protected] and (860) 257-2333
Program Notes: 
CT Green Bank also offer pre-development PACE loans (for benchmarking, audits and pre-development costs for projects that are targeted for a PACE loan) and credit enhancements (in the form of subordinated debt, loan loss reserves, energy savings guarantees or other mechanisms to support pre-development, construction, permanent or other necessary financing.