Green initiatives and policies are increasing in the State of California, driving demand for Commercial Property Assessed Clean Energy or C-PACE financing for commercial buildings. While C-PACE demand is rising across the country, California commercial owners looking to update properties to comply with green regulations in particular can benefit from the program.

“Given the state’s policy focus with increasing requirements on property owners to reduce their carbon footprint, along with escalating costs to construct buildings due to skilled labor shortages and the inflation of raw material prices, Greenworks Lending fills a gap by financing up to 100% of these costs at very competitive terms,” Dana White, director of business development for California at Greenworks Lending, which recently expanded into the state as a result of the rising demand, tells GlobeSt.com

Compliance with new green regulations isn’t the only factor driving the increase. There are ample benefits to green building updates, and owners are more often looking to realize those returns. “As green initiatives continue their rise in California, commercial property owners and developers are increasingly recognizing the many financial and environmental benefits to clean energy,” says White. “These initiatives increase property values by boosting net operating income and help to attract and retain tenants in modernized buildings.”