C-PACE
100% project financing
Structure efficiency, renewables, water, and safety upgrades with long-term repayment tied to the property assessment.
Read storyCommercial Property Assessed Clean Energy (C-PACE)
C-PACE provides long-term, fixed-rate financing for building upgrades in commercial and industrial properties. By financing with C-PACE, businesses can reduce upfront capital needs and support projects with strong long-term cash flow. Benefits include: finance up to 100% of project hard and soft costs; no personal guarantees; long-term financing (up to 25 years); lower utility bills; owner retains tax incentives; works with utility incentives; and assessment-based repayment that can transfer on sale (subject to program terms).
100%
Financing (typical cap)
Hard + soft costs
25 yrs
Term (max)
Long-term fixed rate
28+
RI communities
Opt-in municipalities
No PG
Personal guaranties
For qualifying deals
Eligibility
Who can apply
Commercial and industrial property owners in communities that have opted into C-PACE, including office, manufacturing, agricultural, non-profit, and multifamily (5+ units) properties. Both existing properties and new construction may be eligible.
Use of funds
Project types include, but are not limited to: energy efficiency, renewable energy, water conservation, alternative fuel infrastructure (e.g., EV charging), and environmental health and safety projects (e.g., asbestos or lead abatement).
Requirements
Work with RIIB and an approved capital provider; meet program guidelines, property eligibility, and community opt-in status. Contractors should follow program registration and approval requirements.
Participating communities include: Barrington, Bristol, Central Falls, Charlestown, Coventry, Cranston, Cumberland, East Providence, Exeter, Lincoln, Middletown, Newport, North Kingstown, North Providence, Pawtucket, Providence, Richmond, Smithfield, South Kingstown, Warren, Warwick, West Warwick, Westerly, and Woonsocket. Capital is provided by approved C-PACE capital providers; see the program’s current list and fact sheet for the full provider roster and contact information.
Why C-PACE
View all storiesHow it works
Confirm your property is in an eligible community, then work with program staff and a capital provider to scope, underwrite, and close.
Project scope
Confirm your improvement type is eligible: efficiency, renewable energy, water conservation, alternative fuel infrastructure, and certain health/safety projects, among others described in program guidelines.
Property and community
Confirm the property type (e.g., office, industrial, multifamily 5+) and that the municipality has opted in to C-PACE.
Providers and closing
RIIB administers the program; financing is provided by approved capital providers. Use the contractor and capital provider resources to complete your project path.
Additional resources
Client resources / FAQ hubFrequently asked questions
Who are the capital providers?
Financing is provided by approved C-PACE capital providers. The program maintains a current list of providers and contacts—see the fact sheet and program resources.
Related programs
Efficient Buildings Fund (EBF)
Municipal and quasi-public energy efficiency and renewable energy projects.
Clean Energy Fund (CEF)
Public and private borrowers, including higher-upfront emerging technologies.
Contact
Jim Braz
Director, Commercial Clean Energy Services
For more information about C-PACE, contact RIIB using the information below.
- info@riib.org
- Phone
- (401) 453-4430
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