What is CEIP Commercial?
CEIP Commercial offers flexible financing to commercial property owners to help with the upfront costs of energy efficiency and renewable energy upgrades. CEIP offers:
- Financing for up to 100% of project costs
- Competitive interest rates
- Long repayment terms (up to 20 years)
- The option to repay in full at any time without penalty
- An incentive of up to 10% of total project costs
- Repayment collected through your property tax bill
What are the benefits of CEIP Commercial?
Up-front cost can be a significant barrier for property owners to improve the energy efficiency their buildings. CEIP Commercial removes that barrier so that building owners can implement upgrades that reduce their greenhouse gas emissions, lower energy bills and improve the health and comfort of their properties.
How will interested applicants apply?
- Owners of eligible building types will submit a pre-qualification form to determine eligibility.
- Once pre-approved, they will conduct an ASHRAE Level II energy audit, or use a pre-existing ASHRAE Level II energy audit provided it has been completed in the previous 18 months.
- Applicants work with a contractor on the CEIP Contractor Directory to obtain quotes on upgrades to a maximum overall cost of $1,000,000.
- Once projects are approved by the program administrator and agreements are signed, the building owner will work with their contractor to complete the energy upgrade(s) and submit completion documents to the program administrator.
- After completion, payment will be sent directly to the contractor and the fees will be levied onto the property’s tax bill during the next tax period.
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