A one-year anniversary event commemorated the launch of the C-PACE (commercial and industrial property assessed clean energy) program, a nationally recognized effort that allows Connecticut commercial, industrial and multifamily property owners to access affordable, long-term financing for energy upgrades.
Properties recognized were from Avon, Bridgeport, Canton, Danbury, Hartford, Killingworth, Meriden, Middletown, Norwalk, Norwich, Simsbury, Trumbull and Windsor.
Between them, the properties have completed or will be completing energy-saving and renewable energy projects totaling more than $60 million in combined work, including the installation of 1,033 kilowatts of clean energy products. The properties total more than 1.3 million square feet and are estimated to save more than 32,000 quantifiable thermal units per year.
C-PACE is managed by Connecticut”™s Green Bank, CEFIA (Clean Energy Finance and Investment Authority).
Sixteen properties and their owners from 12 Connecticut municipalities were recognized for their participation.
More than 100 guests attended, including state and municipal leaders, property owners and contractors from across Connecticut.
The site was The Bushnell Theater in Hartford last month.
Guests and speakers included Robert Klee, commissioner, Connecticut Department of Energy and Environmental Protection; David Fay, president and CEO, Bushnell Center for Performing Arts and C-PACE program participant; Bryan Garcia, president and CEO, CEFIA; Jessica Bailey, director, C-PACE program, CEFIA; Craig Harrigan, commercial solar developer.
Seventy-five Connecticut cities and towns have signed on to participate in the program to date, with currently over 120 project applications in the pipeline.
C-PACE allows building owners to finance qualifying energy-saving and clean energy improvements by placing a voluntary assessment on their property tax bill.
Typical C-PACE measures include the installation of high efficiency lighting, heating ventilation air conditioning upgrades and controls, high efficiency chillers, boilers, furnaces and water heating systems, building envelope improvements, energy management systems and renewable energy systems such as solar and fuel cells.
Property owners pay for improvements over time through the additional charge on their property tax bill; the repayment obligation transfers automatically to the next owner if the property is sold.
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