What does C-PACE stand for in the context of energy projects?

C-PACE stands for Commercial Property Assessed Clean Energy. This financing program allows commercial property owners to obtain funding for energy efficiency improvements and renewable energy installations. The key feature of C-PACE is that it allows property owners to pay for these upgrades through an assessment added to their property tax bill, making it more accessible for businesses to invest in sustainable energy projects.

The structure of C-PACE financing is specifically designed to encourage the retrofitting and upgrading of commercial properties by taking advantage of the increased property value resulting from the energy improvements. Through this mechanism, property owners can secure low-interest loans that are paid back over a long period, often 20 years or more, thus facilitating significant investments in energy performance without the burden of large upfront costs.

In contrast, the other options do not accurately capture the essence of the program. They mix terminology and concepts that do not align with the established definition of C-PACE in the realm of energy projects. Understanding C-PACE is crucial for those involved in commercial real estate and energy efficiency as it directly impacts financing options available for enhancing energy performance in commercial properties.