Connecticut Property Assessed Clean Energy (C-PACE)

Connecticut Property Assessed Clean Energy (CPACE) is an innovative financing program that provides owners of commercial, industrial, and multifamily properties access to affordable long term financing for energy efficiency and clean energy upgrades to their buildings. On December 10, 2013 the Town Council voted for Farmington to become a C-PACE community. C-PACE allows building owners to finance qualifying projects by placing a voluntary assessment on their property tax bill; the cost of the improvements are paid back overtime on the property tax bill. The assessment remains with the property even if ownership changes; as a result low interest capital can be raised from the private sector to finance qualifying improvements such as energy efficient boilers, new windows, solar panel installations, and energy efficient lighting. These improvements will give owners of commercial buildings to access cleaner, cheaper, and more reliable energy. For the purposes of C-PACE all non-residential buildings including religious institutions and residential with 5 or more dwelling units, are considered commercial. As an additional benefit Farmington will earn 20 points for each completed C-PACE program and an additional 5 points for each application for C-PACE funding through the Clean Energy Community Program.

To learn about all businesses energy incentives visit: http://www.energizect.com/businesses/