Commercial Real Estate
Clean Energy Financing and Technical Assistance
Access Competitive Capital
New construction projects that exceed Philadelphia’s energy code may qualify for PEA’s Commercial Property Assessed Clean Energy (C-PACE) financing, PGCC’s predevelopment loans, or interim bridge loans.
C-PACE
The Philadelphia C-PACE program offers long-term, fixed-rate financing. C-PACE covers up to 100 percent of hard and soft development costs for commercial, industrial or multifamily energy and resiliency projects. C-PACE is privately funded, non-recourse financing, secured by a special property tax assessment with priority similar to property taxes.Predevelopment and Interim Financing
PGCC offers eligible construction projects predevelopment loans, covering soft costs up to $500,000. Eligibility is limited to construction or rehabilitation of multifamily affordable housing that meets sustainability standards. Interim financing is available to bridge committed sources of funding – up to $2 million to for-profit, non-profit, or local government entities.
Generate On-Site Power
Solar energy provides long-term utility price predictability, saving tens to hundreds of thousands of dollars every year. With innovative financing, property owners can receive benefits without paying upfront costs.
Solarize Greater Philadelphia
PEA partners with the PA Solar Center to assist commercial, industrial and tax-exempt property owners reduce utility costs with on-site solar energy. Solarize Greater Philadelphia offers no-cost assistance for organizations across Southeast Pennsylvania. Building owners are connected to financing options, qualified solar developers, and technical assistance.
Construction-to-Permanent Loan
PGCC offers up to $2 million in financing to cover hard and soft costs related to construction of renewable energy, electric vehicle supply equipment, and other eligible greenhouse gas-reducing projects. An Express Loan is available for construction of small photovoltaic (PV) solar arrays with maximum development costs of $500,000.
Unlock Property Value
Clean energy can be a tool to modernize building systems, while reducing utility costs, improving occupant comfort, and enhancing infrastructure reliability. PEA and PGCC offer technical assistance and financial guidance to owners of existing commercial and multifamily properties.
Building Renovations
The Philadelphia C-PACE Program enables building owners to avoid upfront expenditures for major improvements. Once complete, upgrades such as energy-efficient HVAC systems and LED lighting improve cash flow, positioning the building for long-term success. C-PACE financing is tied to the property, allowing obligations to transfer with a property’s sale.
Multifamily Retrofits
PGCC offers a maximum $2 million loan for multifamily housing energy efficiency retrofits as well as a $500,000 predevelopment loan for eligible multifamily rehabilitation projects. Must meet at least one standard set by LEED, National Green Building, Enterprise Green Communities, or Passive House certifications. Predevelopment excludes demolition and site work.
Extract Capital from Completed Projects
Retroactive C-PACE financing helps owners improve project economics. Long-term, fixed-rate, non-recourse financing is available as far as three years after project completion.
- Offset construction overruns
- Pay down senior debt
- Reduce lender risk
- Improve debt-service-coverage
- Extend holding periods
- Extract capital from projects
