The new Commercial Property Assessed Clean Energy (C-PACE) state-wide program is now
active and open to localities wishing to participate. The Virginia PACE Authority (VPA) is administering the program for the Virginia Department of Energy (Virginia Energy). C-PACE will help grow Virginia’s energy efficiency, renewable energy and resiliency improvements in commercial properties.
“With C-PACE, property owners can finance up to 100% of clean energy projects with fixed rate terms of up to 30+ years. The new statewide program was announced last year and after feedback, the new documentation will create a standardized program across the Commonwealth for jurisdictions to participate, “said VPA President Abby Johnson. “We are excited to bring this program across Virginia, especially with a new focus that allows for financing of resiliency, stormwater and electric vehicle infrastructure.”