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IFA Commercial PACE (C-PACE) Program
Illinois Finance Authority — C-PACE Open Market InitiativeSee programDeadline: Rolling — open program. No application deadline.
Statewide commercial property assessed clean energy (C-PACE) financing administered by the Illinois Finance Authority through the C-PACE Open Market Initiative (a 501(c)(3) program administrator). Allows building owners to finance energy efficiency, renewable energy, water, resiliency, and EV charging improvements through a special property tax assessment with terms up to 40 years and up to 100% of project + closing costs covered. Non-recourse and assignable upon property transfer. Pre-built statewide standardized indenture lowers legal/financing costs vs negotiating C-PACE in each jurisdiction. Available in any county/municipality that has adopted the enabling IFA PACE Ordinance — current list includes Carroll, Jo Daviess, Kankakee, Rock Island, Sangamon, Tazewell counties plus Aurora, Decatur, Mount Prospect, Northbrook, Oswego, Springfield, and other municipalities.
Program details
- Agency
- Illinois Finance Authority — C-PACE Open Market Initiative
- Level
- State
- Category
- C-PACE Financing
- Eligibility
- Owners or developers of privately-owned commercial, industrial, non-residential agricultural, or multifamily (5+ units) properties, plus nonprofit-owned property. Property must be located in a county or municipality that has adopted the IFA PACE Ordinance. Eligible improvements: energy efficiency, renewable energy, resiliency, water conservation, EV charging stations.
- Funding Amount
- Up to 25% of property value financed; up to 100% of project + closing costs; terms up to 40 years; non-recourse and assignable on transfer. $150 fee per project payable to the participating county/municipality (often waived).
- Deadline
- Rolling — open program. No application deadline.
- Status
- open
- Geographic Scope
- Illinois only
- Project Types
- c_pace, solar, ev_charging, lighting_led, hvac, building_envelope, commercial_efficiency
- Client Types
- commercial, industrial, multifamily, nonprofit
- Notes
- Illinois Climate Bank is the Illinois green bank; this IFA arm is its statewide C-PACE program. IMPORTANT: the IFA program does NOT cover Cook County — Cook County and Chicago properties use their own C-PACE administrator (IECA), where terms cap at about 30 years tied to the useful life of the improvements (vs up to 40 years under IFA). Direct fit for evlv.energy C-PACE calculator outputs. Confirm property is in a participating jurisdiction before quoting (use the IFA jurisdiction list; route Cook County deals to the Cook County C-PACE program). Pairs well with: 30C (EV chargers, expires 6/30/2026), 179D (commercial efficiency, expires 6/30/2026), 48E (solar ITC), ComEd Energy Efficiency rebates. Stack to maximize project ROI.
Source: Grantya research. Confirm current terms with the administering agency before applying.