More Energy Projects Now Eligible for Financing Through Recent C-PACE Program Expansion
Posted November 28, 2022
Resolution passed last month by Chester County Commissioners
Earlier this year, Chester County implemented a Commercial Property Assessed Clean Energy (C-PACE) program to assist the county's commercial, industrial, nonprofit, and agricultural property owners with funding for energy efficiency and clean energy projects. The program provides property owners with the opportunity to obtain lower cost, long-term financing for these projects, and benefits taxpayers by saving money and energy.
In addition to funding energy efficient equipment, renewable energy systems, and fixtures that reduce water consumption, a new law was passed at the state level on July 7, 2022 expanding the C-PACE program to include multifamily commercial buildings of five or more units, indoor air quality improvements, and resiliency improvements.
While authorized at the state level, each county with an active C-PACE program must individually authorize these additional eligible project types. The Chester County Commissioners passed a resolution to authorize these project types and adopt updated program guidelines at their Commissioners' Meeting on October 26.
The Commissioners noted, "We are pleased that C-PACE has been expanded to include indoor air quality and resilience projects, and that multifamily buildings are now eligible for C-PACE financing. This expansion means more property owners will be able to take on these important energy-related projects."
Chester County's C-PACE program is administered by the Sustainable Energy Fund (SEF), a nonprofit organization with 20 years of experience in clean energy lending. SEF assists energy users in financing clean energy projects, educating leaders, and investing in clean energy programs and companies.
For more information including program guidelines, application, and other C-PACE resources, visit https://pacpacecounties.org/county/chester-county/.