After years of advocacy and hard work by many stakeholders, the Garden State Commercial Property Assessed Clean Energy (C-PACE) Program is almost fully operational. The New Jersey Economic Development Authority (NJEDA) has now completed and published all the necessary technical documentation, guidelines, and procedures that will govern the program statewide. The only remaining step before projects can begin is the launch of the program’s application portal. But that’s no reason to delay the project development, as a number of steps have to be completed before it can be submitted for approval, and NJEDA is already accepting indications of interest.
What’s Ready Now?
All core program materials—including eligibility criteria, approved measures, underwriting requirements, lien documentation, and administrative procedures—are now available on the NJEDA website. This provides clarity and certainty for property owners, developers, lenders, and contractors seeking to use C-PACE financing for energy efficiency, renewable energy, climate resilience, and water conservation projects.
Once the portal is live, applications can be submitted and projects can begin moving forward. But project developers should be aware that a technical review needs to be completed and a financing commitment obtained before a project can be submitted.
Which Municipalities Are Already Opted-In?
The following local governments have passed the necessary resolutions to enable C-PACE financing in their jurisdictions:
- City of Hackensack
- City of New Brunswick
- Oldmans Township
- City of Plainfield
- Township of Lakewood
- Township of Woodbridge
These municipalities are ahead of the curve and ready to welcome projects that can reduce emissions, save energy, create jobs, and improve the building stock—without requiring public funds or new taxes.
Why This Matters
The Garden State C-PACE program creates a powerful new tool for commercial property owners to finance sustainability improvements with long-term, fixed-rate financing that is secured through a special assessment on the property. Unlike traditional loans, C-PACE financing stays with the property and can be transferred upon sale, making it uniquely well-suited for capital-intensive upgrades.
As New Jersey ramps up its climate and energy goals, C-PACE offers a scalable way to accelerate private investment in building decarbonization, economic development, and climate resilience.
Next Steps
As we await the final activation of the application portal, we encourage developers, property owners, capital providers, and municipal officials to:
- Familiarize yourselves with the published program documents
- Prepare potential projects for submission
- Contact your local government if they have not yet opted in
- Reach out to NJPACE for support, information, or assistance
We’ll provide updates as soon as the portal goes live and applications can be submitted. The long-anticipated moment is nearly here—New Jersey’s C-PACE era is about to begin.
For questions, guidance, or assistance in getting your project or municipality ready for C-PACE, contact us.