The National Electrical Contractors Association (NECA) announced today that Greenworks Lending, a specialty provider of Commercial Property Assessed Clean Energy (C-PACE) financing, will provide financing through NECA’s Energy Conservation and Performance Platform
NECA has named Greenworks Lending the preferred source of C-PACE financing for NECA member contractors, a decision based on the firm’s leadership role in the development of this type of loan product and its advocacy for C-PACE program availability in a growing number of states.
C-PACE financing, offered by Greenworks Lending, is an economic development policy that classifies energy-saving upgrades as a public benefit – like a sewer or road extension. Commercial property owners repay loans via a surcharge on their property tax bill.
In states where programs are in place, Greenworks Lending can:
- finance 100 percent of hard and soft costs related to energy-saving upgrades;
- lend without a personal guarantee from the borrower;
- provide payback periods that match equipment life (typically 20 years);
- finance energy improvements to nearly all commercial property types;
- and projects are typically cash flow positive from day one.
Beyond the advantages for commercial property owners, Greenworks Lending provides NECA members with a streamlined process that provides contractors with a quick pre-approval of proposed projects.
“Our goal when supporting NECA contractors is to help them get to ‘yes’ on commercial energy improvement projects,” states Andrew Zech, Head of Business Development at Greenworks Lending. “We provide our partner-contractors with the training and financial product knowledge to break down the common barriers to entry to clean energy investment.”
As part of the NECA’s Energy Conservation & Performance Platform (ECAP), Greenworks Lending will provide member contractors with:
- financial product knowledge and training for their full team;
- ride along support when necessary;
- marketing materials including case studies – co-branded upon request;
- and calculator tools to quickly evaluate C-PACE project feasibility.
“With Greenworks as our dedicated C-PACE financing provider, NECA members no longer need to worry about access to C-PACE financing and high-level support,” says Mir Mustafa, Executive Director of Business Development at NECA.
To learn more about NECA ECAP and Greenworks Lending, contact Mustafa at mmm@necanet.org or via phone at 301-215-4556.
