Oklahoma County is introducing a new clean energy financing program for commercial property owners. Commercial Property Assessed Clean Energy, or
C-PACE, enables private landowners to receive low-cost, long-term funding for energy efficiency, renewable energy sources, water conservation and building resiliency projects.
The C-PACE program in Oklahoma County was designed to facilitate private financing between
private C-PACE capital providers and commercial property owners located within the county.
The funding can be used for construction costs, new energy efficient systems such as solar,
wind or geothermal power for the facility and systems to reduce water use or reduce emissions.
C-PACE financing is designed to be repaid by an assessment on the borrower’s real property
that is similar to special purpose district property assessments and is treated in a manner
similar to ad valorem real property taxes.
The Oklahoma County Board of County Commissioners approved the Oklahoma County C-PACE
program in March 2022. C-PACE is a national initiative that began in 2009 and 22 states have established local commercial C-PACE programs resulting in more than $670 million in annual investment in 2019.
A $250 nonrefundable fee is due at the time the application is submitted to OIA for review. This fee is to be paid before the Program Administrator will begin review of the final application. Closing fee of 1.25% of the sum of eligible costs financed through C-PACE, not including closing fees of the capital provider or capitalized interest, with a minimum required fee of $2,500 and a maximum of $50,000. The $250 nonrefundable fee may be counted towards this closing fee.
ABOUT C-PACE
