The Illinois Energy Conservation Authority, NFP (IECA), an Illinois tax-exempt 501(c)(3) nonprofit organization, is pleased to announce that it has been selected by Champaign County as the program administrator for the Champaign County Commercial Property Assessed Clean Energy (C-PACE) financing program for commercial real estate owners. The County is the latest to join a growing list of counties that have passed a C-PACE ordinance in Illinois.
Introduced in Illinois in 2019, C-PACE is an innovative financing tool that provides long-term, fixed-rate funding to private building owners for energy efficiency, renewable energy, water conservation, electric vehicle charging and resiliency projects (“PACE projects”) to be installed in both existing or new commercial properties.
“Champaign County is excited to be able to offer this additional financing opportunity to encourage use of sustainable energy in county development projects, as well as in energy-efficiency upgrades to aging building stock, promoting business retention through energy savings,” said Champaign County Executive Darlene Kloeppel.
C-PACE financing is currently available in 37 states, including the District of Columbia, andstimulates local economies by funding the upfront capital for PACE projects that may lower operating costs, generate clean energy, instill resiliency and promote water use conservation in commercial properties. From 2009 to 2020, C-PACE programs have funded more than 2,500 qualifying projects nationwide for a total of more than $2 billion, while also creating over 24,000 jobs.*
“The Champaign County C-PACE program provides a convenient, cost-effective way for commercial real estate owners to attain up to 100 percent financing for clean energy and sustainability improvements that can be repaid through the property tax bill,” said Mark Pikus, president of the IECA. “We encourage Champaign’s local businesses to take advantage of clean energy improvements because they benefit the environment and individual businesses, strengthening the local economy.”
The IECA is the leading C-PACE program administrator in the state and continues to expand adoption of the IECA PACE program to participating communities throughout Illinois.