The main goal of this work is to develop a transferable polarizable protein potential that will reduce the computational cost associated with PE-based calculations of spectroscopic properties of systems containing proteins. This reduction in cost involves a trade-off in terms of a loss of accuracy. To investigate how the accuracy of the CP 3 translates to relevant molecular properties in practice, we computed the ground-state dipole moments and the excitation energy of the lowest singlet transitions together with the associated one-and twophoton absorption (1PA & 2PA) strengths of chromophores in GFP, C1C2, and dodecin.