Commissioners OK Program for Clean Energy Lending for Commercial Real Estate

The Chester County Commissioners passed a resolution this week to activate the county’s participation in a program that would allow commercial property owners to borrow money to upgrade their homes with clean energy and repay the money through an assessment on their property tax bill.

C-PACE stands for Commercial Property Assessed Clean Energy and is a financing tool for commercial property owners to obtain low-cost, long-term financing for energy efficiency, renewable energy and water saving projects. C-PACE can facilitate a loan for a project by placing a voluntary lien on the property that the owner will repay over a period of 10 years or more.

C-PACE’s focus on promoting green projects helps advance the county’s vision for climate action, which aims to reduce Chester County’s contribution to global climate change and improve the health and well-being of the community fairly. In particular, C-PACE will help achieve the county’s goals of promoting sustainable energy and energy efficiency across the Community. The climate protection plan can be viewed in its entirety Here.

“Having been among the first counties in southeast Pennsylvania to pursue a C-PACE program, I am pleased that we are officially adopting this model and building our own active program. C-PACE is mutually beneficial as it not only helps the local environment but also stimulates job creation and support for the business community by increasing investment in our buildings, ”said Marian Moskowitz, District Commissioner Chairman of Chester.

The Commissioners today also approved a contract to manage the program for C-PACE. The PP&L Sustainable Energy Fund (The Sustainable Energy Fund) will administer the program in Chester County, connecting project developers with authorized contractors and lenders. The Sustainable Energy Fund has provided money for such programs across Pennsylvania for two decades.

“By investing in retrofitting older buildings to create even more jobs in an industry that is already growing locally, the Chester County’s local energy efficiency industry will benefit greatly from the creation of C-PACE,” said Chester County Commissioner Josh Maxwell. “Of course that fits together and will help to achieve several goals in order to prepare our district for the future.”

Pennsylvania is one of more than 30 states that have authorized C-PACE. Four public and not-for-profit organizations worked together to develop the program in the state: Keystone Energy Efficiency Alliance (KEEA); Philadelphia Energy Agency; Pittsburgh City Sustainability Commission; and funds for sustainable energy.

“I’m excited to see what our C-PACE program will bring to our community. C-PACE makes it easier for people to fund energy efficient projects and avoids many of the common funding barriers that prevent them from getting projects off the ground, ”said Michelle Kichline, Commissioner for Chester County.

Details of the application process for the C-PACE program will be launched in the new year and published on the county website. www.chesco.org.

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About Natalee Broderick

Natalee Broderick

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