Pear Energy has partnered with Urban Ingenuity, a Washington DC based company that works to develop, finance, and own next-generation clean energy and infrastructure assets. Their focus is to make these assets as resource efficient, information enabled, and climate resilient as possible in order to build healthy equitable and thriving communities.
Urban Ingenuity develops targeted financing programs that align the interest of owners and investors to simultaneously solve three challenges - low customer demand, complex project origination, and inefficient and expensive capital - making projects easier to build, own, and operate.
In particular, Urban Ingenuity operates a Commercial Property Assessed Clean Energy (cPACE) product. PACE financing enables building owners to install energy efficiency and renewable energy upgrades with 100% financing, i.e. no upfront cost. A voluntary tax assessment is placed on the property, serving as the means of repaying the cost of the upgrades.