PACE Equity, a leader in commercial and multifamily building energy upgrade financing, expanded its groundbreaking financial product, CIRRUS® Low Carbon. CIRRUS Zero Carbon financially rewards building owners with a reduced financing rate when they build, renovate, or refinance with a higher efficiency design. The goal of CIRRUS Zero Carbon is to neutralize carbon emissions by optimizing energy-consuming systems and generating renewable energy to offset any remaining energy use. CIRRUS Low Carbon has been in the market for over 3 years and has funded over $160 million for projects across the U.S. and in a variety of asset classes. With the CIRRUS Low Carbon program, total financial benefits — interest savings, energy savings, and property value — outweigh any incremental costs by a factor of 18 to 1 over a 10-year period. — saving over $1 million in interest on average over the financing term. With the introduction of CIRRUS Zero Carbon, PACE Equity encourages more sustainable building practices. They’ve adopted, for the first time in the U.S., a whole-building performance-based Embodied Carbon Intensity (ECI) approach. This ambitious, sector-leading approach will help shape the C-PACE industry as it drives sustainable building practices. PACE Equity has partnered with RESNET, creators of the nationally recognized HERS rating system, to offer preferential financing to multifamily projects with an average HERS Index score of 0. “The CIRRUS Zero Carbon program offers a significantly reduced capital cost when your building reaches net zero carbon emissions,” said Beau Engman, president and founder of PACE Equity. “PACE Equity is excited to recognize HERS to provide a financial reward for building better.” “RESNET is excited to work with PACE Equity on this innovative program that brings financial benefits to the developers and residents of multifamily projects and ensures exceptional energy and carbon savings, said Ryan Meres, programs director for RESNET.” PACE Equity’s CIRRUS Low Carbon and Zero Carbon programs help developers realize higher returns when they create efficient and marketable green buildings. For more information on PACE Equity’s CIRRUS Low Carbon and Zero Carbon program financing and capitalizing with lower rates for lower carbon buildings with the CIRRUS C-PACE program, click here.
