MILWAUKEE, Wisc., May 15, 2023 — PACE Equity has received the Innovation in Efficient Financing award from C PACE Alliance. The award recognized PACE Equity’s CIRRUS Low Carbon program, a unique financing solution that significantly impacted customers and lowered carbon output during its first year.
Announced in early 2022, CIRRUS Low Carbon offers a reduced interest rate for developers and building owners when their project designs meet a design specification outlined by PACE Equity and New Buildings Institute, a Portland-based sustainability think tank. The financing product was designed to change the behavior of the people who directly influence the building stock in the United States.
The CIRRUS Low Carbon Design Specification encourages improvements in building designs that push beyond current building codes to an improved energy efficiency level. As the only financial product dedicated to lowering interest rates while generating energy savings and improved property value, the award-winning CIRRUS Low Carbon designation has experienced substantial demand and growth in 2023.
“We are excited to see this new CIRRUS Low Carbon program change behavior in the market as developers update their designs to construct lower carbon buildings,” said Beau Engman, president and founder at PACE Equity. “We are grateful for the recognition by our industry peers as innovators in the Commercial Real Estate Marketplace.”
The CIRRUS Low Carbon program also offers design consultation with PACE Equity in-house engineers to help developers reach the specification with the lowest impact to construction costs. The engineers work directly with developer design teams to provide design guidance and best practice suggestions so clients can meet the specification and earn the advantage of reduced financing rates.
For more information on lower rates for lower carbon buildings with CIRRUS Low Carbon, visit: pace-equity.com/ lowcarbon
About PACE Equity
Since 2014, PACE Equity has funded Commercial Property Assessed Clean Energy projects in innovative, never before-seen ways, with better financing for better buildings. The PACE Equity team has closed over 200 C-PACE projects across the U.S. and enabled the energy efficient commercial development of over $1.5 billion while eliminating 2.5 million metric tons of carbon. PACE Equity offers the design and support that allow customers to intelligently meet the demands of today’s consumer and tomorrow’s requirements.
