Garden State C-PACE

About this funding opportunity

Open in new Tab Garden State Commercial Property Assessed Clean Energy (C-PACE) Program

The C-PACE Project Application is now open. Please use the “Apply Here” link on the right side of the page to submit an application.

As of July 30th, 2025, the Garden State C-PACE Program is fully launched.

Please scroll down and select the appropriate tab to submit a qualifying party application.

APPLY HERE

The Garden State Commercial Property Assessed Clean Energy (C-PACE) Program is a voluntary financing tool which allows qualifying commercial real property owners to access financing to undertake qualifying energy efficiency, renewable energy, water conservation, and resiliency improvements on their buildings and repay the investment through an additional charge/assessment similar to their real property tax bill. MUNICIPALITIES CAPITAL PROVIDERS TECHNICAL REVIEWERS

MUNICIPALITIES

Click Here to submit a Participating Municipality Opt-in Notice Atlantic City Borough of Highlands Borough of Peapack and Gladstone Camden Hackensack Hoboken Jersey City Montclair Township Moorestown Township New Brunswick Newark Oldmans Township Plainfield Township of Hanover Township of Lakewood Township of Woodbridge

CAPITAL PROVIDERS

Click Here to submit a Qualified Capital Provider Application Clearwater PACE CounterpointeSRE Enhanced PACE Finance LordCap Green Nuveen Green Capital PACE Equity Finance PACE Loan Group PETROS PACE Finance

TECHNICAL REVIEWERS

Click Here to submit a Qualified Technical Reviewer Application

Those listed below may perform the Technical Evaluation, provided they aren’t reviewing the same project. Asset Environments Black Moose Financial Group DCO Energy, LLC EE Consultants LLC Square K Energy Solutions, Inc OVERVIEW BACKGROUND BENEFITS INDICATION OF INTEREST

OVERVIEW Garden State C-PACE Overview

The Garden State Commercial Property Assessed Clean Energy (“C-PACE”) Program will provide a new form of financing for renewable energy, energy efficiency, water conservation, and certain types of resiliency-related improvements for New Jersey. The Program works by enabling eligible commercial, industrial, agricultural, and certain multi-family residential real property owners to access financing to undertake these kinds of improvements on their properties and repay the financing through the payment of an additional assessment to their municipality, similar to their real property tax. Projects financed through the Program will be secured by a special assessment lien on the improved real property. Like other benefit assessments, a C-PACE Assessment is a non-accelerating, senior lien secured by the property. The repayment obligation transfers automatically to the next owner if the property is sold and, in the event of default, only the payments in arrears are due, I.e., the underlying loan cannot be accelerated. In addition, the Program will require that any holder of a mortgage lien on the applicable property must consent to the C-PACE financing before it may be implemented.

Because the payment is secured by a senior lien, C-PACE projects are seen as less risky than typical loans, allowing capital providers to lend at lower interest rates than would otherwise be the case. Moreover, due to the security arrangements for the loan, capital providers are willing to extend loans that are longer in duration, typically tying the loan term to the expected life of the C-PACE project and its associated improvements. The longer loan terms result in lower periodic debt service payments, making it easier for energy efficiency, water conservation and renewable energy-related C-PACE projects to be cashflow- positive from the outset.

Assessments are a tool which municipalities levy on real estate parcels to serve valuable public purposes. C-PACE builds on a long history of using such assessments and serves a public purpose through reducing energy costs, stimulating the economy, potentially improving property valuation, reducing greenhouse…

Topic areas: Circular Economy and Sustainability, Energy and Environment, Smart Cities.

Funding amount

This grant provides Varies in funding.

Deadline

Applications are accepted on a rolling basis; there is no single fixed deadline.

Who can apply

This opportunity is open to the following applicant types:

• Not specified by the program.

Eligibility

The program did not publish a separate eligibility statement. See the official opportunity page for the full eligibility criteria.

Agency

Garden State C-PACE is administered by New Jersey Economic Development Authority (NJEDA), listed via New Jersey Economic Development Authority.