New Mexico C-PACE
Save energy. Build resiliency. Promote economic development.
What is C-PACE?
The Commercial Property Assessed Clean Energy (C-PACE) Program is a financing structure enabled by state statute and local ordinance that provides eligible property owners with access to long-term fixed-rate financing for a range of energy efficiency, renewable energy, water efficiency, and resiliency improvements. The program allows local governments to secure the financing via a special improvement assessment on the improved property.
What are the benefits of C-PACE financing?
Building Owners/Developers
Overcome the up-front costs of a potential project
Increase property value
Lower operating costs through energy efficiency
Special assessment is transferrable upon sale
County Governments
More jobs are created
Local building stock value is enhanced
Higher property tax payments
Reduce pollutants and contribute to county or state climate action goals
Capital Providers
Stronger security for investors due to repayment via property tax bill
Increased collateral value
Increased cash flow
Building Professionals
Energy or resiliency upgrades may now be affordable
Opportunities for energy auditors, architects, building engineers, and contractors
Existing Lien Holders
Enhance property value
Improve building's longevity
See collateral improved without increase in credit risk
Financing only permitted with consent of all existing lien holders