Energy Efficiency Financing
A Smarter Way for Commercial Property Owners to Finance Energy Efficiency Projects
PACE Loan
Property Assessed Clean Energy
The PACE loan is a powerful financing option for commercial property owners who are looking to complete a $100,000 - $1,000,000 energy efficiency or renewable energy project. By placing an assessment on the real property, PACE will extend financing anywhere from 5 – 15 years with interest rates as low as 5%.
STEP Loan
Savings Through Efficiency Program
For commercial property owners who are looking to complete an energy efficiency or renewable energy project, the STEP loan is a great option.
With financing available from $5,000 to $125,000, property owners gain access to much-needed funds to help push projects across the finish line. The interest rate for STEP loans is only 5% with a 10-year term.
"As a small business owner desiring to upgrade my property and cut my expenses, NOPEC's STEP program was a perfect solution. I was able to make expensive capital investments, at a low-interest rate, that were good for both my bottom line and the planet. Their streamlined and simple application process made this a fast and easy alternative to other financing options out there."
-Amanda Mayan, MAN Holdings
A Quick Guide to STEP and PACE | ||
---|---|---|
PACE LoanProperty Assessed Clean Energy |
Loan Type |
STEP LoanSavings Through Efficiency Program |
$100,000 to $1,000,000 up to 100% of eligible costs | How much can I finance? | $5,000 to $125,000 up to 75% of eligible costs |
5-15 years | What is the loan term? | Up to 10 years |
5% | What is the fixed interest rate? | 5% |
Does Your Commercial Property Qualify?
The following commercial properties in a NOPEC community qualify for a STEP or PACE loan:
- Public Sector Facilities
- Private Sector Facilities
- Non-Profit Organizations
- Retail Businesses
- Offices
- Industrial Buildings
- Apartment Buildings with five or more units
- Schools
- Healthcare Facilities
- Religious Organizations