PACEworx News is a free, nationally distributed e-news digest devoted to the fast-growing, evolving field of building energy efficiency improvement. More than 7,000 building owners, property developers, government officials, capital providers, and mortgage originators read PACEworx News to stay informed about the energy-related issues that impact commercial and industrial property.
Working in collaboration with its government agency clients, SRS serves as the foundation for the most successful Commercial Property Assessed Clean Energy (C-PACE) programs in the country. The combination of talented agency staff, the SRS technical support services team and our powerful PACEworx™ Platform has facilitated the development of over $130 million of C-PACE projects — a level unmatched in the industry.
Our unique PACEworx™ Platform provides consistency, quality control and transparency across the entire project life cycle – ensuring that all stakeholder underwriting requirements are met and that projects accelerate to a successful close.
To accelerate projects through each step in the life cycle, SRS deploys a standardized training protocol that provides step-by-step instruction on the workflow of C-PACE and introduces a suite of tools, reports and support services designed to generate building owner enthusiasm for a specific project.
Click Originate, Underwrite, or Close to view key steps in the process.
SRS accelerates project origination through contractor channel initiatives.
SRS tools & reports ensure stakeholder underwriting requirements are met.
SRS prepares Project Finance Report to facilitate finance closing.
C-PACE projects must work for all three project Gatekeepers: Contractors, who have a desire to sell comprehensive projects, Owners and Mortgage Holders — both typically skeptical of the projected energy savings. Gaining consensus requires a skilled, independent third party, with the technical and financial knowledge to deliver projects that meet, or exceed, the objectives of each Gatekeeper.
CONTRACTORS
BUILDING OWNERS
MORTGAGE HOLDERS
Contractor involvement and motivation is the most crucial element in the success of every C-PACE program, especially during the critical 2-3 year launch and growth period. SRS provides outreach, education and training, including workshops and webinars to educate and engage Contractors on the benefits of C-PACE financing. Following the workshops, our Technical Support Services (TSS) team enables contractors with a suite of tools, reports and support services to sustain momentum and accelerate C-PACE market adoption by advancing Contractor projects.
One major barrier to closing C-PACE project financings is often the Building Owners’ lack of confidence in the Contractor’s projected energy savings-based projects. To meet the underwriting requirements of skeptical building owners, our PACEworx™ Platform enables a technically sound transparent project scenario development and optimization process which allows Contractors to address all of the Building Owners’ “what if’s”— improving confidence in the project economics.
Building Owner’s seeking to take advantage of C-PACE financing need to secure the consent of the bank holding the first mortgage — although many bank officers are unfamiliar with C-PACE and may not have the necessary documentation to support such consent. To successfully facilitate the Mortgage Holder’s consent, SRS’s Mortgage Holder Consent Report includes the key financial and technical data required to assess the project’s impact on the building owner’s mortgage repayment ability and collateral value.
SRS provides C-PACE programs with a streamlined, standardized, technically-sound and transparent underwriting methodology that has earned the confidence of contractors, building owners, mortgage holders and capital providers around the country. This proven project underwriting methodology has facilitated the development of over $130 million of C-PACE projects nationwide – a level unmatched in the industry.
for the management of an inherently data-intensive, complicated process. By standardizing the underwriting, SRS has provided capital providers with a high-degree of confidence in the project underwriting data, enabling the sale of PACE portfolios.
BRYAN GARCIA, CEO, Connecticut Green Bank |
Program website: cpace.com |
have brought speed and transparency to the commercial PACE underwriting process.
as the Colorado C-PACE administrator and will oversee an open, competitive lending model that makes it possible for a wide variety of capital providers to participate.
PAUL SCHARFENBERGER Director of Finance & Operations, Colorado Energy Office Chairman, New Energy Improvement District |
Press Release Program website: copace.com |
and technical competence to our program. Working in close collaboration with our staff, SRS has built the RI C-PACE website, written the Program Guidelines, and prepared a detailed communications plan for engaging key stakeholders. As a result, RI C-PACE is positioned for a seamless launch in record time. It has been a very productive partnership.
MICHAEL BAER, Senior Advisor, Rhode Island Infrastructure Bank |
Press Release Program website: ri-cpace.com |
in administering C-PACE programs nationwide, we are confident that our partnership will create a robust program locally that leverages market-based approaches to energy financing, and capitalizes on best practices throughout the country.
LAURA NELSON, Executive Director, Governor’s Office of Energy Development |
Press Release |
during Arlington County’s C-PACE program development. SRS has worked thoughtfully and successfully with county staff from multiple departments, and has considered varied interests to craft an excellent program. Their extensive knowledge of the PACE industry is evident to me and to different stakeholders as we learn from their presentations and excellent answers to questions on all aspects of the PACE program. We look forward to collaborating with them to bring projects to close in 2018.
RICH DOOLEY, Community Energy Coordinator, Arlington Initiative to Rethink Energy |
Program website: arlington-pace.us |
A 124-year-old mixed-use building on East Main Street in Florence will receive an energy makeover thanks in part to the state’s commercial property assessed clean energy (C-PACE) program. read more
A two-story office building in Golden will soon become more energy efficient thanks in part to the state’s commercial property assessed clean energy (C-PACE) program. read more
While almost everyone can agree that our commercial office buildings should be energy efficient, there are many property owners and tenants who still struggle with exorbitant energy costs every month. read more
As most commercial real estate professionals know, occupancy is a major concern for office property managers and owners. After all, high vacancy rates drag down rents, along with the building’s net operating income. A new state program can help. read more
Colorado ranked 10th on the U.S. Green Building Council’s annual list of the top 10 states for LEED certification. The list highlights states throughout America that are making significant strides in sustainable design, construction and transformation at the building level. read more
An 80,000-square-foot office building in Denver will receive a major energy makeover thanks in part to the state’s commercial property assessed clean energy (C-PACE) program. The program, a public-private partnership, relies on private capital, and not taxpayer funds, to help commercial property owners finance energy efficiency projects with affordable, long-term, non-recourse financing. read more
Colorado C-PACE, which helps building owners and developers finance energy efficiency measures, announced the state’s first agricultural project funded through the program. Ela Family Farms, a Hotchkiss-based certified organic orchard, will use C-PACE financing to install a new solar photovoltaic (PV) system at its warehouse. Along with producing renewable energy, the installment is projected to save the fourth-generation orchard more than $113,000 in energy costs over the system’s lifetime. read more
Brian McCarter, CEO of Sustainable Real Estate Solutions, which administers the Colorado commercial property assessed clean energy (C-PACE) program on behalf of the New Energy Improvement District (NEID), today announced that two new projects have been financed through the program. Ogilvie Properties, a Denver-based commercial real estate investment company, will use C-PACE to upgrade two of its commercial properties in Denver with equipment that is projected to save the company more than $113,000 in energy costs each year. read more
Two six-story office buildings in Greenwood Village’s Fiddler’s Green Center are taking the first step toward an even more energy-efficient future. At the conclusion of this $7.1 million energy retrofit project, the Fiddler’s Green Center buildings will save $385,000 in annual energy and maintenance costs, representing a 30 percent savings. read more
C-PACE is an innovative, voluntary financing program for energy-efficiency, water-efficiency and renewable-energy projects. It’s a way to fund energy-equipment replacement projects, and a number of programs now allow commercial real estate developers to use C-PACE financing to fill lending gaps for new construction. read more
April 25, 2018
New Tools for Improving the Energy Efficiency of Leased Buildings
Learn about new financing tools that help owners strive towards net-zero energy savings
Boulder, CO
April 26, 2018
The Current State of Colorado C-PACE
An overview of the C-PACE program and updates regarding the program’s development and current status
Denver, CO
April 26, 2018
2018 C-PACE Conference: A Primer for Owners and Managers
C-PACE is an innovative financing tool that can change the way commercial property owners manage their assets and capital improvement plans
Aurora, CO
April 27, 2018
Building Owner Information Session
Learn how CPACE financing can help improve your building!
Warwick, RI
May 2, 2018
Contractor Workshop
Learn how CPACE financing can help grow your business!
Pueblo, CO
May 15, 2018
Contractor Workshop
Learn how CPACE financing can help grow your business!
North Haven, CT
May 16, 2018
Contractor Workshop
Learn how CPACE financing can help grow your business!
Boulder, CO
May 21, 2018
Contractor Workshop
Learn how CPACE financing can help grow your business!
Fort Collins, CO
May 22, 2018
Contractor Workshop
Learn how CPACE financing can help grow your business!
Colorado Springs, CO
May 23, 2018
Economic Innovation through Sustainable Investments
A roundtable discussion hosted by Denver 2030 and Haynes Mechanical.
Denver, CO
May 24, 2018
Contractor Workshop
Learn how CPACE financing can help grow your business!
Denver, CO
June 7, 2018
C-PACE Community Event
Come listen to a discussion about renewable energy developments and opportunities in Delta County.
Paonia, CO
June 7, 2018
C-PACE Contractor Workshop
Learn how C-PACE financing can help grow your business!
Providence, RI
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