New York’s Energize NY Open C-PACE (Commercial Property Assessed Clean Energy) Program is being utilized by 150,000+ firms spanning a wide range of commercial properties.  Already firms in Bedford and Saratoga Springs have been using this program which “provides a low cost, long-term alternative to traditional loans to fund clean energy projects in commercially owned buildings.”

C-PACE offers “100% long-term, fixed-rate financing for energy efficiency, renewable energy upgrades, and sustainability measures such as green roofs to buildings through a voluntary property tax assessment.” Funding comes from private firms, one of which is Hannon Armstrong Sustainable Real Estate.

The Climate Mobilization Act (which was enacted earlier this year) will penalize commercial properties with more than 25,000 square feet which are not able to reduce greenhouse gas emissions by 80% by 2050 (and 40% by 2030).