More than a year ago, Senate Bill 261 allowing Commercial Property Accessed Clean Energy (C-PACE) financing in our state passed the Senate and went to the House.  It was sent to the House Labor, Commerce and Industry Committee for action, but it hasn’t moved since! Now, there are only TWELVE legislative days before this bill is DEAD, and we have to start all over again.

View our recent C-PACE Action Alert Here

C-PACE is a VOLUNTARY program that allows commercial property owners to finance up to 100% of the cost for energy and water efficiency and renewable energy upgrades through private, long-term loans that are repaid through annual county property tax bills.  Loans remain with the property and are transferred to a new owner when the property is sold.

The benefits C-PACE for building owners are tremendous because C-PACE:

  • REMOVES the capital cost barrier to undertaking upgrades,
  • SAVES money on building operating costs, and 
  • CREATES a direct benefit for the owner and an indirect benefit for the occupant,

 For local economies, C-PACE financing

  • CREATES jobs, 
  • STIMULATES local economies,
  • INCREASES property values,
  • PROTECTS tax base, and 
  • PROMOTES sustainability.

In the thousands of municipalities where it is allowed, more than $335 million has been invested in C-PACE improvements through 988 commercial projects that created around 4,000 jobs.  And, again, C-PACE is entirely VOLUNTARY for owners, lenders, and municipalities.

For more information on C-PACE, contact Bonnie Loomis, at bonnie@scceba.biz.

Presentations from SCCEBA Business Roundtables: Understanding Commercial Property Assessed Clean Energy

Presentation courtesy of David Gabrielson of PACENow and Jessica Bailey of Greenworks Lending

PACE in 90 seconds

Courtesy of PACENow

C-PACE PaceSetter: Calvary Temple

C-PACE PaceSetter: Shagbark Lumber

C-PACE PaceSetter: Forstone