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Advancing Utah's Energy Future

C-PACE and Building Owners

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We are currently revising our C-PACE program due to recent legislative changes.  We will post updated content shortly.  The new SB 273 C-PACE legislation can be viewed on the Utah Legislature’s website.


Overview of C-PACE for Building Owners

Building Owners can learn about our C-PACE process by:

Step-by-Step Documents and Resources

We organized the following resources according to our statewide C-PACE program. This program can be used for projects located in municipalities that have opted-in to the statewide C-PACE program (see Step 1 below for more information).

STEP 1: Municipality Opt-In to Statewide C-PACE Program

Municipalities that sign the Municipal Agreement join Utah’s statewide C-PACE program and receive technical assistance from OED in the form of reviewing and vetting proposed projects to ensure they are eligible and viable C-PACE projects; maintaining a list of authorized service providers; providing template documents to process and issue bonds; and verifying project installation. Salt Lake City has opted-in to the statewide C-PACE program and OED is meeting with other municipalities to encourage them to opt-in.  If you have a project located in a municipality that has not opted-in and need assistance please contact For more details about municipal participation, please visit our municipality webpage and watch our 15 minute video for municipalities.

STEP 2: Project Design and Applications

The building owner should work with their project developer to design the specific project.  All C-PACE projects must be completed by an authorized service provider. OED maintains a list of providers on behalf of municipalities that have opted-in to the statewide program. A list of providers can be searched here. Contractors that want to be added to the list and meet the minimum criteria must fill out the Authorized Service Provider Application and submit it to For more contractor-related resources, please visit our contractor webpage.

Once the project is selected, the building owner must complete the Pre-Application and submit it to OED to ensure the project meets the C-PACE eligibility criteria. Please submit the completed form, including the property title record, to The information submitted in the application should demonstrate that there are no delinquent taxes, special assessments, or water or sewer charges on the property; the property is not subject to a trust deed or other lien on which there is a recorded notice of default, foreclosure, or delinquency that has not been cured; and there are no involuntary liens, including a lien on real property, or on the proceeds of a contract relating to real property, for services, labor, or materials furnished in connection with the construction or improvement of the property. U.C.A § 11-42-209(2).

Once the pre-application is approved, the building owner should complete the Application and submit it to OED ( along with the documents requested in the application (project description, site map, etc.).  The application demonstrates the viability of the project scope and financials. To help demonstrate the viability of the proposed project, we strongly recommend that all building owners applying for C-PACE financing conduct an energy audit or assessment commensurate with the technical level of the project (for example, an ASHRAE Level II Audit). A list of pre-approved energy auditors and assessors can be found here. An audit may also be required by the lender as part of their underwriting criteria.

STEP 3: Identify Capital Provider

The building owner is responsible for identify and selecting the capital provider to purchase the bond. The PACEnation Member Network is a great resource for finding a capital provider, simply filter the search for “PACE Project Funder”. Since new players enter the market on a regular basis, this is the best way to get the most up to date information.

STEP 4: Secure Lien Holder Consent

Utah state law requires building owners to obtain written consent to the C-PACE assessment from any person or institution holding a lien on the property.  To qualify for financing through the statewide Utah C-PACE program, building owners must complete the Lender Consent form and submit it to OED at

While lien holder consent can be a challenge, it is not an insurmountable challenge if project financials are compiled in a format that shows lien holders that C-PACE will cause the value of their collateral to increase, and improve the property owner’s ability to make lien payments.  SRS developed an example of the kind of information an existing lien holder will want to see, OED can help with this process. We also developed a webinar that demonstrates the benefits of lender consent and a lien holder webpage.

In fact, over 100 financial institutions nationwide have consented to PACE assessments.  Here is a list of consenting lenders across the nation and some additional resources that demonstrate the benefits of lender consent:

STEP 5: Municipality Places Voluntary Assessment Area and Issues Bond

OED will assist the municipality in placing the voluntary assessment on the property and issuing the bond. The application submitted in Step 2 is crucial to this process.

STEP 6: Install Project and OED Verifies Installation

The bond is purchased by the capital provider and the proceeds of the sale finance the C-PACE project. OED verifies the project installation. The building owner then repays the lender through their annual property taxes or an alternate arrangement with the lender.

Financial Resources

We encourage building owners to use Utility Incentives, State Incentives, Federal Incentives, and other incentive programs along with C-PACE.

The following schedule can help you estimate your fees at different levels of C-PACE financing1:

Principal AmountBond Counsel Fees2Financial Adviser Fees3Total Fees
$50,000 - $499,999$8,500$6,500$15,000
$500,000 - $749,999$10,000$6,500$16,500
$750,000 - $999,999$15,000$6,500$21,500
$1,000,000 - $1,249,999$20,000$6,500$26,500
$1,250,000 - $1,499,999$25,000$6,500$31,500
$1,500,000 - $1,999,999$30,000$7,500$37,500
$2,000,000 - $2,499,999$40,000$10,000$50,000
$2,500,000 - $2,999,999$45,000$12,500$57,500
$3,000,000+TBD$5 per $1,000TBD

1 This fee schedule was developed by Ballard Spahr and Lewis Young Robertson & Burningham for Utah Clean Energy through the SunShot Initiative.

Bond counsel fees are issued by Ballard Spahr.

3 Financial adviser fees are issued by Lewis Young Robertson & Burningham.

Other Stakeholder Resources

Here are all the applications, documents, information, and resources you need if you are a:

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Mortgage Holder

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  • In the event of a default, does that trigger acceleration of payment on the bond or does it stay a stream of payment?  Default should not trigger acceleration of payment because it is treated like a property tax, not a conventional loan.
  • Can you pay off a C-PACE loan early? There is no statutory guidelines on paying off a C-PACE loan early, it ultimately depends on the terms of the agreement between the capital provider and the building owner.
  • Are non-profits eligible for C-PACE financing? Non-profits can receive C-PACE if they opt to have a special assessment placed on their property.
  • Can audits, design, transaction fees, and other soft costs to be rolled into a C-PACE lien? Yes, all costs may be rolled into the C-PACE obligation, so no money is required up front.

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