New Program Aims to Expand Energy Efficiency for Commercial Buildings

Corvallis with neighborhood block building in the background in orange

April 11, 2025 - A new financial incentive aimed at encouraging commercial investments in energy efficiency and sustainability is rolling out in Corvallis and Benton County this month. The Commercial Property Assessed Clean Energy (CPACE) Program is just the sixth program of its kind in Oregon and the first in the mid-Willamette Valley area.

CPACE is a real estate finance tool that connects commercial property owners with loan programs to fund property improvements related to clean energy, energy efficiency, water conservation, and seismic upgrades.

The primary goal of CPACE is to promote resilience and sustainability in commercial buildings. Most types of for-profit and nonprofit commercial properties are eligible, including office, industrial, agriculture, hotels, multi-family housing, affordable housing, and mixed-use developments. In many cases, CPACE financing can cover up to 100% of qualifying improvements through a low-cost, long-term loan.

The program will be administered locally by the Corvallis-Benton County Economic Development Office, with property assessment services managed by Benton County. Applications open April 11. Read more and apply online at www.yescorvallis.org/incentives.  

For more information about the CPACE program, contact the Corvallis Benton County EDO at 541-766-6339 or Economic.Development@corvallisoregon.gov.

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