Displayed below is a list of Frequently Asked Questions (FAQs). Click on the “>” icon associated with each question to view the answer.

How do I know if my city or county has authorized C-PACE in their jurisdiction?

Contact us to learn more or work with us to help your city or county join the C-PACE program.

When is the voluntary C-PACE energy assessment recorded on the property?

Upon closing of C-PACE financing.

Is this a voluntary program?

Yes. Owners who choose not to participate remain unaffected.

What are typical C-PACE financing interest rates?

To ensure the best possible terms, including interest rate and other fees, the property owner can review term sheets from multiple private capital providers.

How is the length of the repayment period determined?

Repayment periods span up to 30 years, depending on the owner’s preference, and are limited by the weighted average effective useful life (EUL) of the financed improvements.

How are tax credits, rebates, and utility incentives incorporated into C-PACE financing?

Property owners are encouraged to pursue available federal investment tax credits (ITC), utility rebates, and all other available incentives. All or a portion of total incentives may be subtracted from the amount financed under the C-PACE program.

Are there fees associated with the pre-payment of a C-PACE assessment?

Each C-PACE capital provider set their own terms, including pre-payment, in its financing agreement with the property owner. It is common for C-PACE capital providers to include a pre-payment fee schedule.

Can I use any contractor?

Yes. View a list of contractors who have attended C-PACE training. Note that by providing this list, the C-PACE program is not recommending or endorsing any specific contractor.

Is there an application fee for C-PACE?

No, there is no fee to apply for C-PACE financing.

What types of improvements are eligible for C-PACE financing?

Improvements that are eligible for C-PACE financing must be permanently affixed to the commercial or industrial property. Examples include, but are not limited to:

  • Automated building controls (such as BMS and EMS)
  • Automated parking systems or parking that reduces land use
  • Battery storage
  • Boilers, chillers, and furnaces
  • Building envelope (such as insulation, glazing, windows)
  • Combined heat and power (CHP) systems
  • EV chargers
  • Geothermal systems
  • High-efficiency lighting
  • Hot water systems
  • HVAC upgrades
  • Hydroelectric systems
  • Roof replacement that improves energy efficiency (such as reflective/cool roof, enhanced insulation)
  • Seismic resiliency upgrades
  • Small wind systems
  • Solar PV* (roof upgrade/replacement for rooftop systems is also eligible)
  • Solar thermal
  • Variable speed drives on motors, pumps, and fans
  • Vertical transport devices (such as energy efficient elevators and escalators)
  • Water efficient fixtures (such as low-flow faucets and toilets)

In addition, the cost of improvements that are directly related to the installation of eligible improvements may be included in the C-PACE financed amount, e.g., roof upgrades to support a roof-mounted solar PV installation. This list is not all-inclusive and may change over time. For a complete list of improvements, see Utah Code 11-42a-102.

If a proposed improvement or expense is not on this list please contact us and provide a description of the proposed improvement or expense.

*Additional limitations apply for solar PV systems. Under the C-PACE Act, solar PV projects in the Rocky Mountain Power service territory are limited to 2 MW for existing building (there is no cap for new construction). Solar PV projects are prohibited in rural electric co-op territories.

Are C-PACE assessments considered off-balance sheet?

You are encouraged to consult an accountant on this matter.

Is there clarity on the treatment of C-PACE as an operating expense from the perspective of the accounting industry?

You are encouraged to consult an accountant on this matter.

From an accounting perspective, have any auditing firms concluded that the assignable lien (which supports the financing) is not the property owner’s liability?

There has been no specific ruling by the Financial Accounting Standards Board on this issue.

Can C-PACE finance renewable energy systems in rural electric cooperative territories?

No. Rural electric cooperatives prohibit renewable energy projects. C-PACE can finance renewable energy systems in regulated public utility territories, e.g. Rocky Mountain Power.

To view a list of rural electric cooperatives operating in Utah, click here: https://publicutilities.utah.gov/elect-coops.html

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