The Commercial Property Assessed Clean Energy, or C-PACE, is a finance mechanism that allows commercial properties in Rhode Island to invest in renewable energy and energy retrofits. C-PACE is essentially a loan that is paid on a tax assessment. C-PCAE assessments can have terms of up to 20 years, with competitive rates.
The benefit of a C-PACE loan is that it ties the investment to property and not the business. If a business relocates at any point during the repayment period, the assessment stays with the property and not the business.