Previously, Virginia localities that wanted to implement financing for clean energy projects at commercial properties had to set it up on their own — but now they can opt into a statewide program.
RICHMOND, Va. (CBS19 NEWS) — A program that aims to help grow energy efficiency, renewable energy and resiliency improvements in commercial properties across Virginia is now open.
The new program, called Commercial Property Assessed Clean Energy or C-PACE, is now open to localities that want to participate.
According to a release, the Virginia PACE Authority is administering the program for the Virginia Department of Energy.
“With C-PACE, property owners can finance up to 100 percent 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.”