Building owners can now use C-PACE (Commercial Property Assessed Clean Energy) retrofit financing to pay for the installation of electric vehicle (EV) charging infrastructure on their property, according to an announcement from the Connecticut Green Bank.
Under the Connecticut Green Bank’s C-PACE program, building owners will be able to finance the installation of an EV charging infrastructure, which can be bundled with other green solutions including solar and energy-efficiency measures. While C-PACE retrofit projects are structured so that energy savings are greater than the payments, EV charging infrastructure projects will be exempt from this requirement in order to accommodate increased on-site energy demand from vehicle charging.
“While state and federal incentives provide significant cost reduction for electric vehicle supply equipment installed at commercial properties, we realized that the upfront cost can still be prohibitive for building owners. Expanding the scope of our building solutions to include these projects allows us to help businesses and workplaces support the adoption of this vital infrastructure throughout the state,” said Mackey Dykes, vice president of financing programs at the Connecticut Green Bank.
