C-PACE Retrofit Financing for EV Charging Infrastructure

As more drivers go electric, commercial EV charging stations are becoming a necessity. Contractors can grow their business by helping building owners finance and install EV charging infrastructure for employees, tenants, and customers.

Pay for charging or offer free. Whether building owners are asking employees, tenants, and customers to pay to use charging infrastructure or allowing them to use it for free as a provided benefit, C-PACE financing offers the capital needed to get started!  

 Go greener and save on energy costs. A comprehensive approach to green energy can provide notable savings for building owners. With C-PACE retrofit financing, owners can bundle EV charging infrastructure with other green improvements, including solar and energy-efficiency measures, and secure low-interest capital to finance up to 100% of the project while capitalizing on available federal tax credits and utility incentives.  

Benefit from expanded qualification guidelines. C-PACE projects are structured so that energy savings are greater than payments, but EV charging infrastructure is exempt from Savings to Investment Ratio (SIR) requirements to accommodate increased on-site energy demand from vehicle charging. $30,000 is the minimum amount that can be financed with C-PACE.  

Build for the future. EV charging infrastructure can also be included in C-PACE new construction financing projects.  

The CT EV Charging Program is available for qualifying commercial and industrial Eversource and UI electric service customers. Federal tax incentives may also be available for commercial EV charging infrastructure.

With C-PACE retrofit financing, building owners can immediately enjoy the advantages of energy and infrastructure upgrades and pay for them over time through a voluntary benefit assessment. 

• Building owners work with a contractor to develop clean energy projects, including electric vehicle charging infrastructure, lighting, heating and cooling, insulation, motors, pumps, solar panels, and other beneficial upgrades.  

• The Green Bank or another qualified capital provider will finance the project. Repayment terms for C-PACE retrofit financing are typically tied to the effective useful life (EUL) of the equipment being installed. When bundled with other technologies with a greater EUL, such as solar PV, financing terms may extend up to 25 years allowing building owners to further spread payments out over time.
• Payments are made through an assessment placed on a building owner’s property by their municipality, similar to a municipal assessment, that can be transferred if there is a change of ownership. 

Partner with the Green Bank to offer your customers competitive financing for any project.