Commercial Property Assessed Clean Energy Program (CPACE)GoGreenOctober 6th, 2015

Background

• Climate Action Plan Goal: reduce carbon emissions by 80% from 1990 levels by 2050

• Commercial buildings produce 24% of carbon emissions in Multnomah County

• Barriers to improved energy efficiency

• Lack of access to capital

• ROI timeline is mismatched with building holding period

• Split incentive

SB1

Slide 2

SB1 I've hidden this slide. Don't know how much time you want to spend, but I can unhide this if you want to talk about some of this. Barein mind, you may blow your time out of the water if you dig into any of these slides at all.

The barriers below are some of the answers folks will give to your first question. You won't want to put that out there.Sam Baraso, 10/5/2015

CPACE Finance Tool

• Public financing tool to support the retrofit of privately owned buildings

• Provides up to 100% financing

• CPACE loans are secured by a “benefit assessment” lien

• Cost of savings achieved by reduced energy consumption is used to repay CPACE loans

• A lien that is superior to other encumbrances

• Loan transfers with ownership

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12/09 12/11 12/13 08/15(m

illions)

National PACE Activity

• 15 states with funded projects

• > 375 projects

• > $145M

• 1,620 jobs created

Cumulative Funding 2009 to Present

Multnomah County CPACE Partnership

Legal authority Collection agency (default)

Program AdministratorLender

Building assessment and evaluation

Program Objectives

• Create a cost effective financing tool for building owners

• Stabilize building infrastructure and reduce carbon emissions

• Stimulate new business development and job creation

• Leverage capacities and create partnership between public, private, and nonprofit sectors

CPACE Finance Tool

PACENow Video on PACE Financing

by Ian Poellet 

How CPACE Works

CPACE Administrator

by Ian Poellet 

How CPACE Works

Commercial Property Assessed Clean Energy (CPACE)