$555 per megawatt-day is the most PJM proposes to pay, on a weighted-average basis, for the capacity it needs to cover a 6,831 MW shortfall, and its new filing bills the cost to zones where data centers and other large loads are growing. The same week, California offered large loads faster connections if they accept cuts, voters in 10 states decided 41 local data center measures and C-PACE financing moved into data center, hotel and county economic development deals.
Grid Stress, Storms and Resilience Economics
PJM proposes billing its 6,831 MW shortfall to zones where large loads are growing
PJM Interconnection filed an amended Reliability Backstop Procurement with the Federal Energy Regulatory Commission (FERC) on October 29, after FERC suspended the original plan on September 29. Costs would go to load-serving entities in proportion to large-load growth in each zone between the actual 2026 summer peak and the 2028 to 2029 forecast. PJM would buy capacity for up to 15 years at a weighted-average cap of $555 per MW-day, with bidding in March 2027 and results May 10. PJM says new demand response and distributed energy resources may compete to supply capacity. The cost formula determines how much of the shortfall reaches existing commercial customers versus the data centers driving the growth.
SOURCES
American Public Power Association. “PJM Files Amended Reliability Backstop Proposal at FERC.” Oct. 30, 2026. https://www.publicpower.org/node/31581
MGRID. “PJM Refiles Its 6,831 MW Backstop Procurement for a March 1 Launch.” Oct. 31, 2026. https://mgrid.org/2026/10/31/pjm-refiles-its-6831-mw-backstop-procurement-for-a-march-1-launch-and-bills-large-load-growth-since-summer-2026/
PJM Inside Lines. “FERC Accepts PJM Reliability Backstop Proposal.” Sept. 30, 2026. https://insidelines.pjm.com/ferc-accepts-pjm-reliability-backstop-proposal/
PJM Interconnection. “Reliability Backstop Procurement Fact Sheet.” 2026. https://www.pjm.com/-/media/DotCom/about-pjm/newsroom/fact-sheets/reliability-backstop-procurement-fact-sheet.pdf
California’s grid operator lets large loads connect early if they accept cuts
The California Independent System Operator (CAISO), which proposed defining a large load as 50 MW or more at one site, saw its Board advance a large-load framework on October 28 built around a flexible interim load interconnection: data centers and manufacturers can connect before network upgrades finish if they accept enforceable limits when the grid is tight. The proposal also covers utility coordination, protections against shifting costs to other customers and rules for co-located load and generation. CAISO will file at FERC by November 16. Developers gain speed in exchange for less firm service.
SOURCES
American Public Power Association. “CAISO Board Advances New Procedures for Connecting Large Loads.” Oct. 28, 2026. https://www.publicpower.org/node/31571
California ISO. “Large Loads Straw Proposal.” Aug. 11, 2026. https://stakeholdercenter.caiso.com/InitiativeDocuments/Large-loads-Straw-Proposal-Aug-11-2026.pdf
MGRID. “CAISO Answers FERC With Two Flexible Interconnection Services and a 50 MW Large-Load Definition.” Aug. 18, 2026. https://mgrid.org/2026/08/18/caiso-answers-ferc-with-two-flexible-interconnection-services-and-a-50-mw-large-load-definition/
Electrification Economics at the Property Level
Diesel reaches $6.35 a gallon and a record $6.52 in the Rocky Mountain region
The U.S. Energy Information Administration (EIA) reported on-highway diesel at $6.352 a gallon for the week of October 26, up 7.6 cents from the prior week. The Rocky Mountain region hit $6.521 and California $8.155. Regular gasoline averaged $4.269, up $1.23 from a year earlier. Diesel feeds construction bids, freight, landscaping and snow removal contracts and backup generator fuel, so owners should budget winter service contracts at current prices.
SOURCES
U.S. Energy Information Administration. “Gasoline and Diesel Fuel Update.” Oct. 26, 2026. https://www.eia.gov/petroleum/gasdiesel/
Trane’s HVAC backlog jumps to $12.5 billion
Trane Technologies reported third-quarter organic bookings up 20%, revenue up 18% to $6.8 billion and a backlog of $12.5 billion, up 73% from a year earlier, with Americas commercial HVAC backlog up about 80%. Strong demand for large commercial systems, such as the chillers and air handlers used in data centers and large buildings, lengthens lead times for everyone. Owners planning 2027 replacements should order early and lock pricing.
SOURCES
Trane Technologies via PR Newswire. “Trane Technologies Reports Strong Third Quarter Results.” Oct. 30, 2026. https://www.thailand-business-news.com/pr-news/trane-technologies-reports-strong-third-quarter-results-raises-full-year-revenue-guidance-reaffirms-full-year-eps-guidance
U.S. Securities and Exchange Commission. “Trane Technologies Form 8-K, Exhibit 99.1.” Oct. 2026. https://www.sec.gov/Archives/edgar/data/0001466258/000146625826000001/exhibit991-q32026earningsr.htm
A campus battery closes financing six weeks after term sheet
Crux arranged a construction-to-term loan for EnerSmart’s 8 MW, 40 MWh battery at the University of California San Diego, which connects directly to the campus microgrid and is backed by a 10-year resource adequacy contract. The facility was enlarged to bridge a grant and cover tariff-driven equipment cost increases, and closed six weeks after the term sheet. Third-party ownership plus a long-term capacity contract lets a campus add storage without carrying construction risk.
SOURCES
Renewable Energy Magazine. “Crux Facilitates Construction-to-Term Loan Financing for EnerSmart.” Oct. 29, 2026. https://www.renewableenergymagazine.com/storage/crux-facilitates-constructiontoterm-loan-financing-for-enersmart-20261029
SolarQuarter. “Crux Arranges Construction-to-Term Financing for 40 MWh Battery Storage Project at UC San Diego.” Oct. 30, 2026. https://solarquarter.com/2026/10/30/crux-arranges-construction-to-term-financing-for-40-mwh-battery-storage-project-at-uc-san-diego/
Solar, Storage and VPPs
California orders utilities to coordinate customer batteries and EVs as grid resources
The California Public Utilities Commission (CPUC) on October 29 directed Pacific Gas and Electric, Southern California Edison and San Diego Gas and Electric to propose a common framework for coordinating customer batteries, EVs and other distributed resources to meet local grid needs. Starting with the 2028 to 2029 cycle, utilities must also model how flexible loads could reduce the need for grid upgrades. “Making better use of the grid we already have can help us connect customers sooner and keep costs down,” said Commissioner Christine Harada. The rules could turn building batteries into paid local grid resources.
SOURCES
California Public Utilities Commission. “CPUC Advances Integration of Customer Energy Resources Into California’s Electric Grid.” Oct. 29, 2026. https://www.cpuc.ca.gov/news-and-updates/all-news/cpuc-advances-integration-of-customer-energy-resources
California Public Utilities Commission. “Voting Meeting Presentations.” Oct. 29, 2026. https://www.cpuc.ca.gov/-/media/cpuc-website/transparency/voting-meetings/presentations-archive/2026/10-29-26_commeeting.pdf
No state earns an A for virtual power plant policy; Colorado gets a B
The Institute for Local Self-Reliance (ILSR) graded state virtual power plant policies and gave no state an A. Six earned a B: California, Colorado, Connecticut, Hawaii, Maryland and New York. Most states failed. Colorado lost points for lacking equal access and compensation across customer-owned, third-party and utility-owned resources and for allowing participant penalties. The same battery or thermostat fleet can earn revenue in a B state and sit idle in an F state, which makes the scorecard a screen for portfolio retrofits.
SOURCES
EcoWatch. “Community Power Scorecard.” 2026. https://www.ecowatch.com/community-power-scorecard-us.html
Renewable Energy World. “The Best (and Worst) States for Virtual Power Plants and Community Power.” Oct. 28, 2026. https://www.renewableenergyworld.com/energy-business/policy-and-regulation/the-best-and-worst-states-for-virtual-power-plants-and-community-power/
Ford Energy targets 20 GWh of battery storage production by the end of 2027
Ford said on its October 28 earnings call that it is preparing to bring 20 GWh of annual battery storage capacity online by the end of 2027, and that contracts and late-stage negotiations cover more than 80% of 2028 capacity. An automaker redirecting battery output to stationary storage adds domestic supply for commercial and utility projects.
SOURCES
MarketBeat. “Ford Motor Q3 Earnings Call Highlights.” Oct. 28, 2026. https://www.marketbeat.com/instant-alerts/transcript-ford-motor-q3-earnings-call-highlights-2026-10-28/
TeslaNorth. “Ford Model e Posts a $1.1 Billion Q3 Loss as EV Revenue Falls 31%.” Oct. 28, 2026. https://teslanorth.com/2026/10/28/ford-model-e-q3-1-1-billion-loss/
Policy and Market Rules
North Carolina officials push data centers to pay for new power plants
North Carolina Gov. Josh Stein and Attorney General Jeff Jackson urged the North Carolina Utilities Commission to lock in the upfront payments, minimum bills, long contracts and exit penalties in Duke Energy’s settled large-load tariff, and to go further so loads that require new generation pay for it. The debate has moved from who pays for substations to who pays for power plants.
SOURCES
NC Newsline. “NC Gov, AG Call for Data Center Owners to Help Pay for New Power Plants.” Oct. 27, 2026. https://ncnewsline.com/2026/10/27/nc-gov-ag-call-for-data-center-owners-to-help-pay-for-new-power-plants/
WUNC. “NC Attorney General Jackson Calls Duke Energy’s Data Center Tariff a Massive Step Forward.” Oct. 14, 2026. https://www.wunc.org/2026-10-14/nc-attorney-general-jackson-calls-duke-energys-data-center-tariff-massive-step-forward
The Senate permitting bill faces its first vote when the Senate returns November 9
The Senate is expected to take a procedural vote on the Bipartisan American Affordability and Jobs Act when it returns on November 9. The bill would speed transmission, open wholesale markets to building-sited batteries and flexible loads and require data centers of 20 MW or more to pay their transmission costs, in exchange for limits on environmental lawsuits. It needs 60 votes. Our October 28 feature explains what it means for onsite power.
SOURCES (ALPHABETICAL)
Bipartisan Policy Center. “Explaining the Senate Permitting Bill.” Oct. 2, 2026. https://bipartisanpolicy.org/explainer/explaining-the-senate-permitting-bill-the-bipartisan-american-affordability-and-jobs-act/
Brownstein Hyatt Farber Schreck. “Senate Builds Momentum on Permitting Reform With Bipartisan Deal.” Oct. 5, 2026. https://www.bhfs.com/insight/senate-builds-momentum-on-permitting-reform-with-bipartisan-deal/
Local Governance and Federal Policy
Voters in 10 states decide 41 local data center measures on November 3
Ballotpedia counted 41 local data center measures on the November 3 ballot across 10 states, 21 of them in Ohio. Most would limit development through bans, moratoriums or voter-approval requirements; others would support projects or uphold rezonings. All six data center measures decided earlier in 2026 favored limits, including bans in Canterbury, New Hampshire, and Monterey Park, California. Election-night results now shape site risk in those communities.
SOURCES
Ballotpedia. “Data Center-Related Ballot Measures, 2026.” Updated Oct. 30, 2026. https://ballotpedia.org/Data_center-related_ballot_measures,_2026
Ballotpedia News. “Ohio Leads States in Number of Local Ballot Measures on Data Centers for 2026.” Sept. 21, 2026. https://news.ballotpedia.org/2026/09/21/ohio-leads-states-in-number-of-local-ballot-measures-on-data-centers-for-2026/
San Diego pauses data centers, but the 400 MW proposal sits on Navy land
The San Diego City Council voted unanimously on October 27 for a 45-day moratorium on data center permits, extendable to nearly two years, while staff draft rules within 180 days. Amendments call for no costs passed to residents, renewable power and minimum distances from schools, parks and child care centers. The pause does not reach the 70-acre Navy-owned NAVWAR site, where Manchester Financial Group has floated a 400 MW data center, so council members asked the mayor to lobby Congress.
SOURCES
City of San Diego. “Mayor Gloria Statement on City Council’s Unanimous Vote to Ratify Data Center Moratorium.” Oct. 27, 2026. https://www.sandiego.gov/mayor/mayor-gloria-statement-city-councils-unanimous-vote-ratify-data-center-moratorium-san-diego
KPBS. “San Diego City Council Unanimously Passes Moratorium on Data Centers.” Oct. 27, 2026. https://www.kpbs.org/news/politics/2026/10/27/san-diego-city-council-unanimously-passes-moratorium-on-data-centers
Times of San Diego. “City Council Unanimously Pauses Data Center Construction Despite Little Power Over NAVWAR Proposal.” Oct. 27, 2026. https://timesofsandiego.com/politics/2026/10/27/city-council-unanimously-pauses-data-center-construction-despite-little-power-over-navwar-proposal/
A Michigan township votes 6-0 against a 700 MW data center announced without it
Lighthouse Sustainability and the Lansing Economic Area Partnership (LEAP) announced a 700 MW data center with six hours of battery storage on 423 acres in Delhi Township, where a 12-month data center moratorium runs to April 2027. Township officials said they had not been consulted, ended their LEAP membership and on October 30 the township board voted 6-0 to oppose the project. Announcing before consulting can turn a neutral pause into opposition.
SOURCES
Bridge Michigan. “Michigan Township Rejects Data Center Pitch Before Talks Even Begin.” Oct. 31, 2026. https://bridgemi.com/michigan-environment-watch/michigan-township-rejects-data-center-pitch-before-talks-even-begin/
Michigan Public. “Delhi Township Trustees to Vote on Opposing New Data Center.” Oct. 28, 2026. https://www.michiganpublic.org/politics-government/2026-10-28/delhi-township-trustees-to-vote-on-opposing-new-data-center
Hermantown, Minnesota, approves a 500 MW Google campus over protests
Hermantown’s City Council unanimously approved six resolutions on October 30 for Google’s roughly 1.7 million square foot data center, with 500 MW of expected demand, after protests halted two earlier meetings and four hours of mostly opposed testimony. Google had dropped a request for up to $80 million in tax breaks, scaled the project from four buildings to three and signed a $210 million decommissioning agreement. State approval of the electric service agreement and three lawsuits remain, so local approval is one of several gates.
SOURCES
KAXE. “Google Drops Request for Tax Relief for Hermantown Data Center Proposal.” Oct. 15, 2026. https://www.kaxe.org/local-news/2026-10-15/google-drops-request-tax-relief-hermantown-data-center-proposal
MPR News. “Hermantown Approves Controversial Google Data Center During Late-Night Meeting.” Oct. 31, 2026. https://www.mprnews.org/story/2026/10/31/hermantown-approves-controversial-google-data-center-during-late-night-meeting
Northern News Now. “Hermantown City Council Passes All Six Data Center Resolutions.” Oct. 30, 2026. https://www.northernnewsnow.com/2026/10/30/hermantown-city-council-passes-all-six-data-center-resolutions-following-4-hours-public-comment/
EV Charging in Real Places
Pennsylvania awards $37 million for more than 500 community charging ports in the Southeast
The Pennsylvania Department of Transportation (PennDOT) awarded $37 million in National Electric Vehicle Infrastructure (NEVI) community charging funds for more than 500 public ports across the five-county Southeast region, a 27% regional increase and 53% in Philadelphia. Community-scale NEVI money is now landing at shopping centers and garages, which can change the case for an owner’s own chargers nearby.
SOURCES
Delaware Valley Regional Planning Commission. “$34 Million Available for Southeast Pennsylvania in NEVI Community Charging Funding.” 2026. https://www.dvrpc.org/news/2026/34-million-available-southeast-pennsylvania-nevi-community-charging-funding
Pennsylvania Department of Transportation. “Shapiro Administration Invests $37 Million in EV Chargers in Southeastern Pennsylvania.” Oct. 28, 2026. https://www.pa.gov/agencies/penndot/news-and-media/newsroom/statewide/2026/shapiro-administration-invests--37-million-in-ev-chargers-in-sou
Tesla builds fewer Superchargers as use hits a record
Tesla added 200 net Supercharger stations and 2,108 net stalls in the third quarter, its slowest third-quarter build since 2021, bringing its network to 8,904 stations and 84,465 connectors. Use moved the other way: a record 2.4 TWh delivered across 69 million sessions, both up 29%. More than 600 stalls are customer-owned through Supercharger for Business, a model that lets property owners host Tesla-operated charging.
SOURCES
EVChargingStations.com. “New Tesla Supercharger Deployment Tanked by Over 40%: Q3 2026 Report.” Oct. 22, 2026. https://evchargingstations.com/chargingnews/tesla-supercharger-q3-2026/
EVWire. “Tesla Supercharger Network Q3 2026 Scorecard Results.” Oct. 5, 2026.
https://evwire.com/p/tesla-supercharger-network-q3-2026-scorecard-results
EV Market Signals
Ford’s EV unit loses $1.1 billion as revenue falls 31%; a $28,350 EV is due in late 2027
Ford’s Model e unit lost $1.1 billion in the third quarter, 25% less than a year earlier, as revenue fell 31% to $1.2 billion and wholesales dropped to about 34,000 vehicles. Ford still expects about $4 billion in Model e losses this year and breakeven by 2029. Its first vehicle on a new low-cost platform, the Fathom, is on track for late 2027 at a starting price of $28,350. Affordable models will set the timeline for broad charging demand.
SOURCES
MarketBeat. “Ford Motor Q3 Earnings Call Highlights.” Oct. 28, 2026. https://www.marketbeat.com/instant-alerts/transcript-ford-motor-q3-earnings-call-highlights-2026-10-28/
TeslaNorth. “Ford Model e Posts a $1.1 Billion Q3 Loss as EV Revenue Falls 31%.” Oct. 28, 2026. https://teslanorth.com/2026/10/28/ford-model-e-q3-1-1-billion-loss/
Rivian becomes the No. 2 EV brand as U.S. EV sales fall about 30%
Rivian ranked second among individual EV brands in U.S. sales for the third quarter and year to date, behind Tesla, according to Cox Automotive data. Its new R2 sold 3,456 units in its first quarter at a $57,990 starting price, and its commercial delivery vans rose 221% to 8,469 units. Total U.S. EV sales fell about 30% over the first three quarters. Fleet vans are a growth segment for depot and logistics charging.
SOURCES
AutoGuide. “Rivian Climbs to No. 2 in U.S. EV Sales, Trailing Only Tesla.” Oct. 20, 2026. https://www.autoguide.com/auto/rivian-climbs-to-no-2-in-u-s-ev-sales-trailing-only-tesla-44640730
Cox Automotive. “Q3 2026 Kelley Blue Book EV Sales Report.” Oct. 12, 2026. https://www.coxautoinc.com/wp-content/uploads/2026/10/Q3-2026-Kelley-Blue-Book-EV-Sales-Report-updated-as-of-10-12-26.pdf
Data Center Demand and Innovation
NERC adopts the first mandatory grid rules for data centers of 50 MW or more
Reliability standards from the North American Electric Reliability Corporation (NERC) for computational loads of 50 MW or more connected at 100 kV or higher were adopted by NERC’s Board of Trustees on October 26 after clearing a final ballot October 14. They cover interconnection studies and modeling, operating data and communications, and protection settings and disturbance monitoring. NERC will now file them with FERC for final approval. Sites that host or neighbor large computing loads should expect more modeling, data sharing and performance obligations in interconnection.
SOURCES
American Public Power Association. “Board of Trustees for NERC Adopts Foundational Computational Load Reliability Standards.” Oct. 27, 2026. https://www.publicpower.org/node/31559
Data Center Knowledge. “Reliability Standards for AI Data Centers, Crypto Miners Move Closer to Adoption.” Oct. 15, 2026. https://www.datacenterknowledge.com/regulations/reliability-standards-for-ai-data-centers-crypto-miners-move-closer-to-adoption
Vertiv pays up to $2.6 billion for a microgrid controls company
Vertiv completed its purchase of UtilityInnovation Group on October 27 for about $1.45 billion in cash plus up to $1.15 billion in earnouts, adding microgrid controls, custom switchgear and storage for onsite power. “Access to power has become a critical competitive advantage,” said Vertiv chief executive Giordano Albertazzi. Major infrastructure vendors now sell onsite power as a package, which strengthens the case for treating it as a leasing feature.
SOURCES (ALPHABETICAL)
Data Center Dynamics. “Vertiv Acquires Microgrid Company UtilityInnovation.” 2026. https://datacenterdynamics.com/en/news/vertiv-acquires-microgrid-company-utilityinnovation
Vertiv. “Vertiv Completes Acquisition of UtilityInnovation Group.” Oct. 27, 2026. https://investors.vertiv.com/news/news-details/2026/Vertiv-Completes-Acquisition-of-UtilityInnovation-Group/default.aspx
DOE offers Constellation up to $5 billion to add 1.1 GW at existing nuclear plants
The U.S. Department of Energy (DOE) made a conditional loan commitment of up to $5 billion to Constellation for uprates at eight plants in Illinois, Maryland and Pennsylvania, adding about 1.1 GW from 15 reactors. Much of the output is already contracted to hyperscalers, including a 20-year Google agreement covering 890 MW. Uprates are among the fastest sources of firm capacity in PJM and the Midcontinent region, though the commitment is conditional.
SOURCES
American Nuclear Society. “Constellation to Get Up to $5B DOE Loan for Planned Uprates.” Oct. 28, 2026. https://www.ans.org/news/2026-10-28/article-8523/constellation-to-get-up-to-5b-doe-loan-for-planned-uprates/
Constellation Energy. “Constellation Secures Conditional DOE Loan Commitment of Up to $5 Billion.” Oct. 27, 2026. https://www.constellationenergy.com/news/2026/10/constellation-secures-conditional-doe-loan-commitment-of-up-to-5-billion-to-expand-nuclear-output.html
World Nuclear News. “US Government Loan to Support Constellation Uprates.” Oct. 2026. https://world-nuclear-news.org/articles/us-government-loan-to-support-constellation-uprates
Production flag: The team research also cites a $5.1 billion DOE loan to Alliant; it was not confirmed and is omitted.
C-PACE News
C-PACE enters the data center debate in Fairfield, Alabama
Fairfield’s City Council voted on October 22 to explore Commercial Property Assessed Clean Energy (C-PACE) financing under a new Alabama law and set a public hearing for November 2. Patmos, which proposes a data center campus at the city’s former Walmart, starting at 20 MW and growing to 45 MW, has said it wants to use the program. Mayor Herman Carnes Jr. said the city takes on no debt and that the program is open to other businesses. Patmos used a $100 million C-PACE loan for its 35 MW data center in the former Kansas City Star building, the largest C-PACE deal in Missouri history.
SOURCES
ABC 33/40. “Jobs, Power and Water: Fairfield Presses Data Center Developers.” Aug. 13, 2026. https://abc3340.com/news/local/jobs-power-and-water-fairfield-presses-data-center-developers
Katten Muchin Rosenman. “C-PACE Financing Can Be a Useful Part of a Data Center’s Capital Stack.” Oct. 21, 2026. https://katten.com/c-pace-financing-can-be-a-useful-part-of-a-data-centers-capital-stack
KCUR. “Kansas City Data Center Clean Energy Loan Raises Regulation Questions.” Jan. 15, 2026. https://www.kcur.org/housing-development-section/2026-01-15/kansas-city-data-center-clean-energy-loan-regulation
WBRC. “Fairfield Sets Public Hearing on C-PACE Financing Program.” Oct. 23, 2026. https://www.wbrc.com/2026/10/23/fairfield-sets-public-hearing-c-pace-financing-program/
Production flag: Update with the outcome of the November 2 hearing.
A Gettysburg hotel plans $6.2 million in C-PACE alongside a USDA loan
Peachtree Group made a $12.75 million, 12-month bridge loan to The Barn Hotel, a 70-room resort in Gettysburg, Pennsylvania, to be repaid by a planned $25 million U.S. Department of Agriculture business loan and $6.2 million in C-PACE financing, both subject to approval. The permanent loans would fund interior construction of the guest rooms. Pairing a bridge loan with C-PACE and government-backed debt is becoming a standard hospitality capital stack.
SOURCES
Asian Hospitality. “Peachtree Bridge Loan for Barn Hotel, Gettysburg, Pa..” Oct. 2026. https://www.asianhospitality.com/peachtree-bridge-loan-barn-hotel-gettysburg-pa/
LODGING Magazine. “Peachtree Provides Bridge Financing for Gettysburg Resort.” Oct. 27, 2026. https://lodgingmagazine.com/peachtree-provides-bridge-financing-for-gettysburg-resort/
North Carolina’s Triad joins the state C-PACE program
Guilford County, Greensboro and High Point announced participation in North Carolina’s Commercial Property Assessed Capital Expenditure program on October 15. Owners of commercial, industrial, agricultural, nonprofit and multifamily properties of five or more units can finance HVAC, envelope, lighting, water, solar and resiliency upgrades through a voluntary property assessment, with written consent from existing mortgage holders. The Economic Development Partnership of North Carolina administers the program statewide.
SOURCES
Guilford County. “Guilford County, Greensboro, High Point Announce C-PACE Financing Program.” Oct. 15, 2026. https://www.guilfordcountync.gov/news/press-releases/2026/10/15/guilford-county-greensboro-high-point-announce-c-pace-financing-program
The News Herald (Morganton). “Guilford County and Triad Cities Launch NC C-PACE Program.” Oct. 2026. https://morganton.com/news/community/article_0ef0745e-aff0-50e8-a471-9ec9fa86b2bf.html
C-PACE lending reached $3.6 billion in 2025, up 63%
Bayview PACE reports C-PACE financing volume rose 63% to $3.6 billion in 2025 from $2.2 billion in 2024, led by Florida condominium, hotel and mixed-use projects. Nuveen Green Capital’s fourth C-PACE lending fund reached more than $1 billion at first close in August, bringing its fund series commitments to $3 billion. Institutional capital is now committed to the asset class, which supports larger deals such as data center conversions.
SOURCES
Alternative Credit Investor. “Nuveen Inks $1bn for Climate-Focused Lending Fund.” Aug. 25, 2026. https://alternativecreditinvestor.com/2026/08/25/nuveen-inks-1bn-for-climate-focused-lending-fund/
MBA Newslink. “C-PACE Financing Jumps 63% Year-Over-Year to $3.6 Billion.” Mar. 24, 2026. https://newslink.mba.org/?p=272675