Financing CHP with C-PACE: An Innovative Energy Solution
Commercial Property Assessed Clean Energy (C-PACE) offers a unique financing solution for green energy upgrades, making them accessible and affordable. Learn how C-PACE can transform capital expenditures into profitable investments that lower operating costs and improve building performance. Explore case studies and the benefits C-PACE provides to property owners in Rhode Island.
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Presentation Transcript
A Better Way to Finance CHP with C-PACE August 29, 2018
Table of Contents What is C-PACE C-PACE in Rhode Island C-PACE for CHP Case Study 2 August 8, 2018
What is C-PACE? Commercial Property Assessed Clean Energy (C-PACE) is an innovative financing solution that makes green energy upgrades accessible and affordable. C-PACE financing can take what was once a capital expenditure and turn it into a cash-flow positive investment that lowers operating costs, increases asset value and improves building performance. 3 August 8, 2018
Background Financing program managed by Rhode Island Infrastructure Bank Incentivizes commercial property owners to make clean energy improvements to their buildings Retrofit and New Construction Expansion of municipal benefit assessment to include clean energy improvements 4 August 8, 2018
What does C-PACE offer? IMMEDIATE CASH FLOW MOST PROJECTS & BUILDINGS QUALIFY FLEXIBLE AND SECURE FOR OWNERS 100% financing Long payback period, fixed rate, no-balloon Preserves debt- service ratio (bank perspective) Covers all hard and soft costs Qualify based on property value Funds most energy and water projects All standard commercial property types No personal or corporate guarantee Transfers on sale Expense can be passed through to tenants Preserves borrowing capacity 5 August 8, 2018
The Power of C-PACE in Rhode Island $5.0 million in project finance for thirteen projects 1 MW installed renewable energy capacity $7.0 million in gross energy savings to small businesses 50 jobs supported and created Greenhouse gas emission reduction equivalent to 2,758 passenger cars driven for a year $3.8 million in projected asset value increases 6 August 8, 2018
CHP Case Study Meridan YMCA If you can have a better system that is cleaner, more efficient, that saves you money that s exciting. There was no out-of-pocket expense and no recurring expense because the savings from this new energy source will pay for the financing. This isn t just about the YMCA winning it s about the community as a whole winning. John Benigni, CEO, Meriden YMCA CHP undertaken to reduce energy costs associated with pool heating $312,800 project cost financed over 20 years $695,000 in gross savings 7 August 8, 2018
Contact us Michael Baer Michael Baer Managing Director Rhode Island Infrastructure Bank Rhode Island Infrastructure Bank mbaer@riib.org 401-453-4430 www.riib.org www.ri-cpace.com 8 August 8, 2018
