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PACE Equity and New Buildings Institute (NBI) announced today the first and only financing option for owners and developers to benefit from a differentiated cost of capital when they build a lower carbon building. This groundbreaking approach called CIRRUS™ Low Carbon encourages owners/developers to use C-PACE financing with lower rates when they build more efficient buildings, charting a practical and financially beneficial path to building decarbonization. The program is available for new construction and renovations based on the CIRRUS Low Carbon Design Specification for Low Carbon Financing which was developed by NBI in partnership with PACE Equity.  

Building owners/developers who meet the design specification receive a lower cost of capital, access to the PACE Equity Low Carbon Team, and designation as a CIRRUS Low Carbon Building. Buildings that pursue CIRRUS Low Carbon are verified by NBI, achieving the status and benefits of a green building matched with the lower cost of capital and Low Carbon Team only available from PACE Equity. 

Projects that follow CIRRUS Low Carbon will make a difference in reducing the 39% of U.S. carbon emissions that come from the built environment. CIRRUS Low Carbon is a practical standard based on ASHRAE 90.1 requirements and delivers 8% higher efficiency than the 2016 standard.  

“These projects will be a critical gamechanger in the climate fight,” said NBI CEO Ralph DiNola. “A new IPCC report predicts dire consequences for inaction on climate change with a short window in which to take action. We are excited to work with PACE Equity to provide the technical backbone while they provide the low cost financing, engineering and estimating support for the CIRRUS Low Carbon program.”