Pursuant to G.L. c. 25A, sec. 6(13), MassDevelopment Finance Agency (MDFA), with the technical assistance of DOER, has launched a Property Assessed Clean Energy (PACE) program for commercial and multifamily buildings. PACE Massachusetts allows owners of commercial, industrial, and multifamily (5 or more units) properties to make energy improvements to existing facilities and finance the improvements over a long term (up to 20 years). The loan is repaid via a municipal betterment assessment on the property and attaches to the property so the benefits and payments flow to subsequent purchasers. For details about financing and to apply, visit the MassDevelopment Website.
DOER's Role in CPACE
DOER reviews PACE Massachusetts applications to ensure that savings and costs are substantiated and meet the Savings to Investment Ratio requirements (savings outweigh the costs).
Eligible energy improvements include:
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Energy Consumption Reduction
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Renewable Energy
Please see the PACE Massachusetts Guideline for more information about eligibility.