Statewide Archives - Virginia Energy Efficiency Council

Virginia Energy launches standardized commercial clean energy program

September 16, 2022 Jessica Greene

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.”

Virginia launches statewide clean energy financing program

September 16, 2022 Jessica Greene

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.

C-PACE, which stands for Commercial Property Assessed Clean Energy, is a financing program that helps commercial real estate install energy-efficient measures to their buildings. Examples include stormwater management, updated HVAC and insulation, solar panels, and electric vehicle charging stations.

The financing offers upfront costs with repayment through property assessment bills for up to 30 years.

Property Assessed Clean Energy (PACE) Loan Program Is On Pace Across Virginia! The new statewide C-PACE program is live!

September 15, 2022 Jessica Greene

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.”