New Hampshire’s Commercial Property Assessed Clean Energy (C-PACE) Finance Program is ready to help commercial building owners finance energy efficiency and renewable energy projects now that Hanover is leading the way. As the first New Hampshire municipality to adopt RSA 53-F, Hanover established the entire town as an Energy Efficiency and Clean Energy District.
C-PACE makes it possible for private owners of commercial properties (including non-profits) to obtain affordable, long-term financing for energy efficiency and renewable energy projects, by electing to repay their loan through a Special Assessment tax from the Town.
Private Capital Providers, such as banks and investors, can finance projects with commercial building owners and utilize the C-PACE framework. Municipalities simply act as a conduit for the repayment of the loan and building owners and Capital Providers can benefit from the tax status of the C-PACE Special Assessment. Through C-PACE, municipalities can help support investment in commercial building improvements without cost to taxpayers.
The Jordan Institute, Inc., as the statewide administrator of the program, is currently working with the cities of Concord, Portsmouth, Dover, Keene, and Lebanon to adopt C-PACE in the coming months.
Modeled after municipal betterments such as sidewalk and sewer districts, PACE financing has been adopted by 32 states and in the past few years has helped more than 700 commercial buildings across the country complete energy efficiency and renewable energy upgrades using over $200 Million in private investment.
Find out more about NH C-PACE at www.cpace-nh.com