Arlington County is the first Virginia jurisdiction to enable C-PACE financing! Watch the County Board
discuss program benefits.
SRS has launched a powerful cloud-based app that enables HVAC contractors and energy efficiency project developers, in real time, to estimate energy cost savings and calculate financial impacts of their projects. Powered by proprietary data, predictive analytics and proven technology, Energy Performance Improvement Calculator (EPIC™) incorporates data collected by SRS over the last decade from thousands of energy improvement projects nationwide. EPIC-generated reports, appended to project proposals can transform an unwelcome capital expense to a compelling investment opportunity.
C-PACE + SRS = THE PATH TO SUCCESS
POWERING C-PACE INITIATIVES
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.
PROJECT LIFE CYCLE
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.
ORIGINATE
SRS accelerates project origination through contractor channel initiatives.
- Owner authorizes contractor for site visit, upon SRS pre-qualification
- Contractor uses SRS tools to optimize project for C-PACE financing
- SRS conducts project eligibility and savings projections technical review on behalf of agency sponsor (Government or Non-Profit)
UNDERWRITE
SRS tools & reports ensure stakeholder underwriting requirements are met.
- Owner approves project scope and cost, post SRS technical underwriting
- Owner, with SRS technical support, obtains mortgage holder consent
- SRS supports owner’s “best fit” capital provider selection
CLOSE
SRS prepares Project Finance Report to facilitate finance closing.
- Capital provider and owner execute finance agreement
- SRS coordinates with local tax office to place PACE assessment
- Contractor commences construction, SRS oversees project commissioning
ENERGIZING THE GATEKEEPERS.
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.
SELECT ONE
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.
MOTIVATING THE NATION.
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 $400 million of C-PACE projects nationwide – a level unmatched in the industry.
The SRS Platform is essential
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 |
Go to the program website |
SRS’s state-of-the-art project development tools
have brought speed and transparency to the commercial PACE underwriting process.
RICH CHIEN, GreenFinanceSF Program Manager, City and County of San Francisco
SRS was competitively selected
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 |
Read the press release | Go to the program website |
The SRS team has brought experience
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 |
Read the press release | Go to the program website |
With SRS’s extensive success
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.
Go to the
LAURA NELSON, Executive Director, Governor’s Office of Energy Development |
Read the press release | Go to the program website |
The SRS team has been a valued partner
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 |
Go to the program website |
IN THE NEWS
Days Inn to Retrofit Boulder Hotel Project to utilize over $2 million in C-PACE financing (January 27, 2021 | Press Release)
Colorado C-PACE announced today that Summit Capital, in partnership with Twain Financial Partners, will leverage almost $2.2 million in C-PACE financing to retrofit the Days Inn Hotel located at 5397 South Boulder Road in Boulder, Colorado. read more
Ogilvie Properties of Denver to Utilize C-PACE Financing to Upgrade the Energy Efficiency of its Quebec Street Property (October 22, 2020 | Press Release)
Colorado C-PACE announced that Ogilvie Properties, a Denver-based commercial real estate investment company, will use more than $2.7 million in C-PACE financing to install energy efficiency measures at their office building located in Denver. read more
Longmont’s New Hilton Garden Inn to Utilize Colorado C-PACE Financing Program (October 22, 2020 | Press Release)
Colorado C-PACE announced that Cimarron Hospitality will use C-PACE financing to fund a portion of the capital stack required to complete the construction on a new Hilton Garden Inn in Longmont, Colorado. read more
New Boutique Hotel in Summit County to Utilize Colorado C-PACE Financing Program (October 13, 2020 | Press Release)
Colorado C-PACE announced that the Hotel Indigo in Silverthorne, Colorado will use C-PACE financing to fund a portion of the capital stack required to construct this new boutique hotel. This is the second new construction hotel project for the Town of Silverthorne to leverage the CO C-PACE program. read more
Spring Born Will Utilize Colorado C-PACE to Fund Energy Efficiency Measures at its new Greenhouse in Silt, Colorado (October 9, 2020 | Press Release)
Colorado C-PACE announced that Charles Barr is leveraging CO C-PACE to fund a portion of the capital stack in the new development of a 165,525 SF state-of-the-art greenhouse. The project, located in Garfield county, includes a 41,140 SF technology building that is home to a fully automated recirculating hydroponic gutter system for delivering plan nutrients. read more
EVENTS
There are no events on our calendar at this time, but we are always adding new Contractor Workshops and Building Owner Forums, so check back soon.
CONTACT US
Call 203.880.5300
or send us a message using the contact form.
