CLEER Program Overview
The Commercial Loan for Energy Efficiency and Renewables (CLEER) offers commercial and industrial property owners a source of funds to cover energy savings improvements made to their properties and businesses. Commercial or industrial properties or businesses, including office, retail, manufacturing, warehouse, multifamily rental, and multifamily communities (e.g., condominiums, cooperatives and planned unit developments) are eligible for the product.
The loan helps when Pepco incentives or other grants do not fully cover the costs of your energy savings scope of work. CLEER loan terms can be set to allow energy savings to offset the costs of financing the improvements.
Energy efficiency and clean energy can have a huge impact by helping you:
- Lower your energy bills
- Create a more comfortable work or business environment
- Increase your property value
- Lower your impact on the environment
- And much more!
CLEER loans are offered through participating lenders Ascentium Capital LLC and Revere Bank who have partnered with the Montgomery County Green Bank to make these loan products available in the Pepco service area of Montgomery County.
Loan terms vary by lender, but generally:
- Loans may be from $10,000 to $250,000
- 100% financing is available
- Loan terms of up to 12 years possible
- No lien placed on property
Loan proceeds can be used for a variety of energy efficiency measures – including all Pepco C&I Eligible Measures PLUS solar PV, Energy Storage, and HVAC (gas). And, up to 30% of loan proceeds can be used for non-eligible measure improvements to enable you to complete the job!
To learn more:
- Download the CLEER Program Overview Brochure (in trifold pdf format)
- Contact representatives from each of the lenders:
Is Your Energy Efficiency Project Scope Greater than $250,000?
While some CLEER financings may be able to exceed $250,000, owners of properties considering large energy efficiency projects should also consider Montgomery County Commercial PACE. While not a Montgomery County Green Bank product, you should explore it to determine if it is suitable for your needs. Information on the County’s PACE program may be found at the following link: http://mocopace.wpengine.com/.