Commercial and industrial property owners who invest in green energy improvements in their buildings have a distinct competitive advantage, according to the Connecticut Green Bank. The Connecticut Green Bank (formerly the Clean Energy Finance and Investment Authority, or CEFIA), administers the C-PACE program, which provides Connecticut’s commercial property owners the ability to finance energy-efficiency and clean-energy improvements that allow them to realize an increased asset value and immediate cash flow. Using money saved on energy bills, building owners repay C-PACE financing through a benefit property tax assessment typically spanning 20 years, making it easier to finance multiple improvements.
“When building owners leverage green improvements properly, their properties typically outperform other properties in terms of asset value, related to operating expenses, rent premiums and occupancy,” said Genevieve Sherman, Director, Commercial and Industrial Programs (C-PACE) for the Connecticut Green Bank.
“C-PACE customer case histories demonstrate that by significantly reducing utility costs, upgrades like high-efficiency lighting, heating, ventilation and air conditioning (HVAC) systems, and solar energy systems drive up net operating income (NOI) and create new cash flows that are capitalized into asset value.” Read more.