Funding & Financing for Commercial Buildings

Commercial Property Assessed Clean Energy

C-PACE is a financing program that provides long-term, fixed-rate financing to building owners for renewable energy, energy efficiency, water efficiency, and resiliency projects. C-PACE is secured through an assessment lien on the property and is repaid over time as a line item on the property tax bill. If the building changes ownership during the payback period, C-PACE does not accelerate or become due. Rather, payments transfer to the new owner. Building owners work directly with private sector lenders to provide up-front costs for projects.

Energy Efficiency Revolving Loan Fund

The Illinois Environmental Protection Agency (IEPA) and Illinois Finance Authority (IFA) are now accepting pre-applications for the Energy Efficiency Revolving Loan Fund (EE RLF) program. This initiative offers low-interest Bridge Loans to nonprofits, public entities, and commercial building owners in order to finance clean energy projects, such as building electrification, energy storage, and distributed generation, while addressing funding gaps caused by delays in receiving federal direct pay tax credits and Illinois Solar for All incentives.

Apply for the EE RLF Bridge Loan here: Pre-application Link

Energy Efficient Commercial Buildings Deduction

Building owners who place in service energy efficient commercial building property (EECBP) or energy efficient commercial building retrofit property (EEBRP) may be able to claim a tax deduction. The U.S. Department of Energy (DOE) has launched the 179D Portal, which hosts two free tools to estimate potential federal tax deductions for installing eligible energy-efficient technologies in commercial buildings. 

Energy-efficient technologies can increase building performance and save on utility bills. Now, the new 179D Portal can estimate how building upgrades can qualify building owners and designers for a tax deduction, to further impact the bottom line, with tax deductions ranging from $0.58 to $5.81 per square foot.

Peoples Gas Energy Efficiency Program

The Peoples Gas Energy Efficiency Program offers incentives for commercial customers to reduce energy consumption through efficiency improvements to their systems and equipment. The program supports commercial, industrial, and small and midsize businesses.