Record growth demonstrates value of C-PACE funding

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Over the last 12 months the Rhode Island Commercial Property Assessed Clean Energy (C-PACE) program facilitated a historic high of $58.2 million in financing across nine projects, including three recent closings during the COVID-19 crisis. Recent C-PACE funding has been crucial to implementing projects in healthcare, hospitality, multifamily residential, office space, and manufacturing facilities. The projects that have utilized C-PACE over the last year created or supported 760 jobs and are projected to reduce greenhouse gas emissions by the equivalent emissions of 3,428 homes. Our growing pipeline of projects in Rhode Island reflects the national trend among building owners who increasingly recognize the value of C-PACE as a tool to improve their facilities and their balance sheets. In 2019 C-PACE investment across the US reached $670 million, equal to 150% growth over 2018. In anticipation of another successful year we have added new staff to support growing program demand and have introduced new tools to help our partners identify worthwhile energy and cost saving projects

Read the full article of how Rhode Island Infrastructure Bank’s C-PACE program helps Rhode Island businesses make critical building upgrades while providing the financial flexibility to hire additional staff and pursue new opportunities.