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

ComEd High Performance Design Incentive

This ComEd program provides comprehensive energy solutions for new construction and major renovation projects. ComEd New Construction offering makes it easy to design for greater energy savings.

You can consult with experienced technical experts at no cost and receive one-time financial incentives for new construction or major renovations designed to exceed energy code requirements.

ComEd provide recommendations, assistance, and financial incentives for energy-saving improvements to all major building systems—envelope, HVAC equipment, lighting, commercial refrigeration and more.

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.

ComEd New Construction Offering

The ComEd® Energy Efficiency Program new construction offering provides solutions that can help your facility generate long-term energy and cost savings. The earlier in design you enroll your project (at concept development or schematic design phase), the better results you’ll realize.

There are two pathways for participating in the New Construction Offering:

1. Best Practices offers a prescriptive approach to new construction projects. Designed for fast-moving, developer-led projects.
2. Performance Path offers a custom, hands-on technical approach to new construction projects and targets projects that are early in the design phase to maximize opportunities to influence the incorporation of high-performance design strategies.

ComEd Retro-Commissioning

Your facility has the power to save money and energy with a Retro-Commissioning (RCx) project. RCx can positively impact your facility’s energy performance, improve your bottom line and create a more comfortable environment for your occupants.

An authorized Energy Efficiency Service Provider will perform a fully-funded study of your facility’s energy management systems to identify low-cost operational improvements. You’ll save an average of 5-15% on annual energy costs and may also qualify for incentives or additional savings through your natural gas utility’s partnership with ComEd.

Looking for more ways to save money and energy? Your business may qualify for one of three project types.

ComEd Facility Assessments

ComEd can help find energy-saving opportunities, whether it's lights, HVAC system, chillers, or motors. When scheduled, an approved energy engineer will either conduct an in-person or virtual Facility Assessment. There, they will spend approximately two hours with you assessing your facility to identify energy-efficiency opportunities. Within three to four weeks, you will receive a report detailing energy efficiency projects that you can start working on immediately. Each recommendation will include estimated energy savings, cost savings, project cost, potential incentives, and simple payback.