C-PACER Eligibility Requirements
Eligibility Requirements
C-PACER is a flexible program with wide applicability across several types of new development and property retrofits. Read the information below for specific requirements
Eligible Property Types
Any commercial project within a municipality that has opted-in to the C-PACER program. Eligible properties include commercial, industrial, or other uses, including residential property containing 5 or more dwelling units. Eligible property may be owned by any type of business, corporation, individual, or nonprofit organization permitted by state law.
Eligible Costs Within a Project
Put simply, a C-PACER project shall provide energy or water resource conservation, reduced public health costs and/or risk, or reduced public emergency response cost and/or risk.
Specifically the following describes the four (4) eligible, qualified project types:
- Clean Energy: The installation of any system on the property for producing electricity for, or meeting heating, cooling, or water heating needs of the property, using either renewable energy sources, combined heat and power systems, or district energy systems using wood biomass (but not construction and demolition waste), waste heat, or natural gas. Such improvements include, but are not limited to, solar photovoltaic, solar thermal, wood biomass, wind, and geothermal systems, provided that, to be covered by an agreement with a property owner and financed under this chapter, such improvements shall be qualifying improvements under RSA 53-F:6.
- Energy Conservation and Efficiency: Measures to reduce consumption, through conservation or more efficient use, of electricity, fuel oil, natural gas, propane, or other forms of energy on or off the property, including but not limited to air sealing, installation of insulation, installation of heating, cooling, or ventilation systems meeting or exceeding ENERGY STAR standards, building modifications to increase the use of daylighting, replacement of windows with units meeting or exceeding ENERGY STAR standards, installation of energy controls or energy recovery systems, and installation of efficient lighting equipment, provided that, to be covered by an agreement with a property owner and financed under this chapter, all such improvements must be permanently affixed to a building or facility that is part of the property and shall be qualifying improvements under RSA 53-F:6.
- Resiliency Improvement: Improvements that increase the resilience of a property, including but not limited to air quality, snow and flood mitigation, energy storage and microgrids, alternative vehicle charging infrastructure, and fire and wind resistance.
- Water Conservation Improvement: Measures, equipment, or devices that decrease the consumption of or demand for water, address safe drinking water or eliminate lead from water used for drinking or cooking.
What Can Be Financed?
The principal amount of any financing, excluding interest, can be up to 35 percent of the appraised property value. Within that limit, C-PACER can finance 100% of the actual cost of installing renewable energy systems, energy efficiency improvements, water efficiency improvements and resiliency improvements. This includes the costs of necessary equipment, materials, and labor, financing costs, ancillary costs, the costs of each related energy or water audit or feasibility study, and the cost of verification of such renewable energy system and energy efficiency, water efficiency, and resiliency improvements.
List of Eligible Financing Costs:
- Permit fees
- Inspection fees
- Lender fees
- Program application and administrative fees
- Project development and engineering fees
- Interest reserves
- Capitalized interest
- Any other fees or costs incurred by the property owner incident to the installation, modification, or improvement
Retroactive Financing / Recapitalization
A property may be eligible for retroactive C-PACER financing if the qualifying improvements were completed and operational no more than 36 months prior to submission of the C-PACER application to the program administrator. Waivers to the 36-month requirement may be granted in the sole discretion of the program administrator
Refinancing C-PACER
Refinancing enables a property owner that previously used the C-PACER program to:
- Refinance the outstanding Assessment with the existing C-PACER capital provider, establishing a new set of financing terms, e.g., lower interest rate or shorter finance term, or
- Refinance the outstanding Assessment with a different capital provider