C-PACE Financings Solarize Two Buildings

One C-PACE financing was used for a suburban office building in Sausalito at 3030 Bridgeway.

SAUSALITO, CA—Two financings have facilitated the use of Commercial Property Assessed Clean Energy/C-PACE financing to lower costs on office buildings’ operations while aligning the terms of the solar improvements to create long-term benefit and payback. Northern California owner-operator Seagate Properties used 30-year C-PACE financing by Cleanfund Commercial PACE Capital Inc. to install a 49.6 kW solar PV array on Seagate’s San Rafael headquarters, while also making related improvements to heating and cooling systems. Its other C-PACE implementation was for another office building in Sausalito using a 76 kW solar PV array.

“It’s a real plus to be able to amortize the financing (of building improvements) over 30 years, making it much easier to maximize the cash flow benefits,” according to Seagate’s Mark Polite. “And it’s cheaper than other forms of capital.”