Breaking Ground with C-PACE Financing
C-PACE financing is a policy that enables commercial property owners to more-easily invest in renewable and energy efficiency building improvements and construction elements. This educational session introduces conference attendees to the opportunity represented by commercial PACE (C-PACE). The session, presented in concert by the nation’s leading C-PACE capital provider and a living case study – a Connecticut-based commercial property, will cover basics of C-PACE financing from applicable property types and approved energy saving/renewable measures to the distribution of funds to contractors to repayment through the property tax structure. The session will be case-based, citing specific examples from a variety of projects across the nation representing different business types, property types and improvements.
Questions addressed by the panel or through the lecture include:
1. Program details, qualifications, financing amounts and cost of capital
2. Upcoming states where the program will become available
3. Details on particular case studies, i.e. the measures and installations, as well as verification of proposed energy savings
4. Stakeholder roles including:
What does a building owner have to do to use C-PACE?
How can a contractor benefit and/or introduce this program at the time of project proposal to clients?
What role does the state administrator play in the process?
Presented ByJessica Bailey
CEO & Co-Founder
Greenworks Lending, LLC
Prior to co-founding Greenworks Lending in 2015, Jessica led the design and management of the C-PACE program at the CT Green Bank. In its first two years, the program financed $75 million in clean energy projects and executed the first securitization of commercial efficiency assets – more than doubling the volume of PACE transactions between 2013 and 2014. Bailey worked from 2004-2012 at the Rockefeller Brothers Fund (RBF), an $800 million foundation based in New York. As the Fund’s program officer for sustainable development, she co-managed a $7 million portfolio of grants focused on combating climate change and promoting clean energy.
In 2014, Jessica was named a “Champion of Change” by the White House for solar deployment. The Hartford Business Journal dubbed her a “Green Warrior” for her work designing the successful Connecticut C-PACE program. After co-founding Greenworks Lending and scaling C-PACE nationally, Jessica was named to Connecticut Magazine’s 2018 list of “40 under 40.” She received her graduate degree from Yale University and undergraduate from the University of Notre Dame.
For more on Jessica and Greenworks, view this recent article in the Fairfield County Business Journal.