Commercial landlords and nonprofits in 22 Massachusetts communities have a new option for financing energy-efficiency upgrades.

The Property Assessed Clean Energy (PACE) Massachusetts program applies to commercial and industrial buildings, multifamily buildings with five or more units and buildings owned by nonprofits.

Administered by MassDevelopment and the Department of Energy Resources, the program requires that energy savings pay for the cost of improvements. After state approval, owners seek private financing and receive a betterment assessment and lien on the property from the municipality. Projects can be financed up to 20 years, and the assessment is transferred to the new owners if a property is sold.

The PACE program is available to building owners in 22 communities whose governing bodies have voted to opt in so far: Acton, Agawam, Amesbury, Barnstable, Devens, Erving, Fall River, Fitchburg, Franklin, Gardner, Greenfield, Lexington, New Bedford, North Adams, Northampton, Orange, Pittsfield, Randolph, Rockland, Wendell, West Springfield and Yarmouth.

Specifics on the guidelines and application materials are available at massdevelopment.com/pace.