In 2022, Lake County launched a Commercial Property Assessed Clean Energy Program (C-PACE) to incentivize commercial property owners to make energy efficient improvements for their business.
C-PACE is an innovative program that provides long-term, fixed-rate, non-recourse financing to private building owners for energy efficiency, renewable energy, water conservation, electric vehicle charging and resiliency projects to be installed in commercial buildings.
Property owners may obtain up to 100 percent financing from private capital providers for eligible improvements such as HVAC, lighting and solar photovoltaic (PV) systems and other improvements in both existing buildings and new construction projects. Funding through C-PACE is received through qualified capital providers, secured by a special assessment lien on the property and repaid as a line item on the property tax bill.
C-PACE Benefits for Property Owners
Up to 100% financing of eligible C-PACE Project costs and soft costs necessary to design, engineer, install and finance the project
Long-term, fixed-interest rates, up to the estimated useful life of the improvements (up to 30 years)
C-PACE projects reduce operating costs and increase property value
C-PACE assessments transfer upon sale to the next property owner
Ability to generate net positive cash flow on certain improvements in the first year
Learn More and Apply
Lake County selected the Illinois Energy Conservation Authority, NFP (IECA), an Illinois 501c3 nonprofit organization, to be the County’s program administrator of its C-PACE program.