Commercial Energy Loan Program

A CEL Program loan provides a low-interest, long-term financing to help eligible property owners complete building improvements that reduce energy and water use, support renewable energy generation, improve climate resilience, or enable electric vehicle charging. It can help reduce upfront project costs while supporting long-term operational savings, improved tenant comfort, lower emissions, improved asset value, and strong building performance.

The CEL Program loan is attached to the property, not the individual or corporation and is deferred and repaid through property taxes. This means that if you sell the property before your loan is paid off, the loan may be transferred to a new owner, subject to program requirements and the terms negotiated between the buyer and seller. Alternatively, the outstanding balance may be repaid in full at any time without penalty.

The minimum loan to participate in the program is $10,000. The maximum loan amount for this program is $1.5 million per building. Financing cannot exceeed 20% of the property’s assessed value.

There is a one-time administration fee of $750 for loans up to $40,0000. Any amount above $40,000, an additional fee of 1.6% applies. For non-profit and affordable housing providers, the administrative fee is waived for loans below $40,000 and a reduced fee to 1% fee applied to any amount above $40,000.

You have four months from the date of your CEL Program application approval email to submit a complete Funding Request package and sign a Program Deferral Agreement with the City.

Before applying for the program, ensure that you and your building meet project and property eligibility requirements, read the CEL Program Guide, create a MyProperty account and gather the required initial application information.

The program process for CEL Program includes six main steps, guiding applicants from eligibility confirmation and project planning through installation, project completion, and loan repayment.

An energy audit helps you understand how your building uses energy and where improvements can reduce utility costs, improve comfort, and lower greenhouse gas emissions.

Energy and water efficiency projects require an ASHRAE Level II audit, equivalent virtual assessment, or another City-approved assessment with engineer attestation. For simpler projects, such as single-measure upgrades like LED lighting retrofits, or solar photovoltaic installations, the City may waive or modify the audit requirement. For Climate Resiliency projects, a Climate Resiliency Risk Assessment Form will need to be completed.

Level II Audits typically include:

• A description of the building, including major systems and typical use
• A review of recent utility bills to understand energy use and costs
• An inventory of major equipment such as heating, cooling, ventilation, lighting, controls, and domestic hot water systems
• Site observations, measurements, or short-term monitoring where needed
• Recommended energy and water conservation measures
• Suggested next steps for planning and completing upgrades

Audit costs can vary depending on building size, complexity, and available information. Participants should confirm scope and pricing directly with their selected energy professional. To learn more, check out the Commercial Energy Audits factsheet. 

These resources support contractors participating in the Commercial Energy Loan Program (CELP). Here you’ll find guidance on how to register for the program’s pre‑vetted contractor list, information on how contractor payments are issued through CELP, and details on required permits and approvals for retrofit projects completed under the program.

For a complete list of rebates, grants, tax incentives, technical assistance programs, and other funding opportunities that can be combined ("stacked") with the CEL Program to reduce project costs and improve project feasibility. Visit the Commercial Energy Resources webpage.