October 31st, 2023
Phius and PACE Equity, which funds Commercial Property Assessed Clean Energy (C-PACE) projects, jointly announced a new partnership and compliance path for PACE Equity’s CIRRUS Low Carbon program. The CIRRUS Low Carbon program provides a reduced financing rate for projects that meet its eligibility criteria, helping project developers fill a gap in a capital stack, replacing more expensive funding options, and improving project returns. Through the new partnership, commercial real estate projects that are certified as Phius CORE or Phius ZERO passive buildings are automatically eligible for the CIRRUS Low Carbon reduced financing rate when approved for PACE Equity funding.
Since 2014, PACE Equity has been funding C-PACE projects across the United States. Through its work, the firm has enabled energy-efficient commercial developments totaling more than $2.7 billion while eliminating over 1 million metric tons of carbon. Projects that meet the Phius CORE and Phius ZERO standards align significantly with PACE Equity’s CIRRUS Low Carbon design goals, and the new partnership goes a long way toward facilitating the efforts of both organizations to push forward with the goal of decarbonizing the built environment.
For more information on lower rates for lower carbon buildings with CIRRUS Low Carbon visit: pace-equity.com/lowcarbon
For more information on Phius ZERO and Phius Core building standards visit: https://www.phius.org/standards