Connecticut's Clean Energy Finance and Investment Authority (CEFIA) has launched a property assessed clean energy finance (PACE) program for commercial and industrial properties.
The offering, known as the C-PACE program, is designed to support building owners seeking low-cost, long-term, upfront financing for clean energy upgrades, such as solar installations. C-PACE is part of the state's Energize Connecticut initiative.
Building owners in municipalities that have already adopted C-PACE, including Stamford, Bridgeport, Norwalk, Hartford, Middletown, Durham, West Hartford, Beacon Falls, Windham, Simsbury and Westport, are now eligible for this financing.
Like other PACE programs, C-PACE allows building owners to repay their energy investments through a benefit assessment charge on their property tax bill. Benefit assessments are a safe and familiar tool used by municipalities to finance projects including street paving, water and sewer systems, and street lighting, the CEFIA notes.