C-PACE financing results in more valuable buildings

C-PACE (Commercial Property Assessed Clean Energy) financing for commercial and industrial buildings puts energy efficiency and renewable energy upgrades within reach for many types of businesses. With 100% financing for green energy upgrades, C-PACE strengthens the economic and competitive position of building owners by making their buildings more valuable, more efficient, and more productive.

It isn’t always clear how to valuate a building that is undertaking a green energy project. This is why C-PACE relies on an appraiser’s ability to apply specialized skills to assess how green energy upgrades will impact a building’s value and ensure it meets underwriting criteria. Commercial and non-profit building owners across Connecticut are embracing C-PACE , administered by the Connecticut Green Bank – the first green bank in the nation and a leader in working with appraisers to advance the value of green energy to businesses and the communities in which they work. Together, the Connecticut Green Bank and the appraisal community can advance the green energy movement through C-PACE, creating a healthier environment and a healthier economy.

C-PACE creates opportunity for commercial real estate appraisers

• Becoming a C-PACE appraiser creates more business opportunities. As the green energy economy surges forward, qualified C-PACE appraisers can serve new clients, position themselves as leaders in their industry, and acquire skills that set them apart from other appraisers.
• The Connecticut Green Bank is a trusted ally. The Green Bank offers workshops and other forms of education and support to appraisers, mortgage holders, and other stakeholders to help them with the process.
• C-PACE generates value for properties. Organizations that take advantage of C-PACE financing add value to their business with a modern, energy-efficient building that’s also more comfortable. Savings through C-PACE improve bottom-line performance, making businesses stronger and more sustainable.
• C-PACE has unique value for building owners. C-PACE assessments offer building owners up to 100% financing for terms as long as 25 years, and are transferable in the event of a sale. State statutes require C-PACE projects to have a Savings to Investment Ratio (SIR) greater than 1, meaning that projected monetary savings from the improvements must exceed the total investment (including financing costs) over the lifetime of the measures – meaning lower operating costs for the property.
• C-PACE is part of the green energy movement. Quarterly reports on C-PACE performance show that the program is gaining widespread acceptance and is a key factor in how the state has risen to be a national leader in the green energy movement.

Getting started

Becoming a C-PACE appraiser is easy. The Connecticut Green Bank accepts applications from appraisers on a rolling basis through a Request for Qualifications (RFQ). The RFQ outlines required and preferred qualifications and the appropriate submission process and format.

Access the Request for Qualifications for Appraisers for CPACE Projects – or contact the Green Bank with questions or to submit a response

RFQ for C-PACE Appraisers

• Cover Letter
• Request for Qualifications
• Exhibit A – Appraiser Experience Checklist
• Exhibit B – C-PACE Program Background
• Exhibit C – Standard Professional Services Agreement