C-PACE is a financing structure that enables owners of commercial, industrial and multifamily residential properties to obtain affordable, long-term funds for 100% of the cost of energy and water efficiency retrofits (as well as for distributed generation investments).
The multifamily rental housing sector presents particular challenges to energy policy makers and energy efficiency program managers. While all market sectors manifest barriers to energy efficiency investment, the multifamily sector has more than most. Lack of awareness of efficiency benefits, limited capital to invest in new technologies, conflicting priorities for a building owner or manager’s time and energy and split incentives between owners and tenants have all been cited as challenges to increasing energy efficiency in this sectors.
The scope of the study includes rental townhomes and multifamily buildings with five or more housing units that are heated with natural gas or electricity. In the state of Minnesota there are about 370,000 such housing units, nearly three-quarters of which are in the seven-county Twin Cities region. For the study 120 buildings were sampled from across the state, 78 of which are located in the Twin Cities area.