March 8th, 2021
County Executive Kathy Dahlkemper and the Erie County Department of Planning and Community Development announce the implementation of Commercial Property Assessed Clean Energy (C-PACE). This program will allow Erie County property owners to access long-term loans to pay for renewable energy systems, energy efficient equipment, and fixtures that reduce water consumption.
Erie County Council approved the C-PACE resolution on March 2, and authorized the county to enter into a cooperative agreement with Sustainable Energy Fund for the administration of the program. The program administration will include the adoption of program guidelines and a possible fee structure to cover administrative costs of the county.
“We are excited to bring C-PACE to Erie County to boost investment in energy efficiency and renewable energy by making funding for these projects more accessible,” said Lynn Armel, sustainability coordinator with the Erie County Department of Planning and Community Development. “C-PACE has the potential to bring jobs to the local energy efficiency industry, reduce greenhouse gas emissions, and help local commercial property owners save money on their energy bills.”
Erie County commercial businesses, agriculture interests and nonprofits, with the aid of private capital providers, will be able to finance clean energy and water efficiency projects. The C-PACE program, offering as much as 100% financing, will save local constituencies money and energy, providing even greater opportunity to those with initiative.
“Sustainable Energy Fund is proud to offer its 20 years of experience in clean energy lending to Erie County, allowing them to take advantage of this powerful new energy finance tool for bringing investment, jobs, and clean energy to their communities,” said John Costlow, president of SEF.
Commercial Property Assessed Clean Energy (C-PACE) is a financial tool for property owners to obtain low-cost, long-term financing for energy efficiency, renewable energy and water conservation projects. C-PACE can facilitate a loan from private capital sources for a project by placing a voluntary special payment on the property’s annual tax bill that repays the cost of the upgrades. Nationally, more than $2 billion has been invested through PACE loans. In Pennsylvania, C-PACE investment could help retrofit one of the nation’s oldest building stocks and accelerate growth in a local energy efficiency industry that already accounts for 65,000 jobs.
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For more information on program development, program guidelines, and links to the preapplication, visit ErieCPACE.org. If you have a project and would like assistance finding a contractor or capital provider, contact SEF at 610-264-4440.
About Sustainable Energy Fund
Sustainable Energy Fund (SEF), a nonprofit organization, assists energy users in overcoming financial, educational and regulatory barriers to a sustainable energy future. SEF provides a variety of services including financing energy conservation, energy efficiency and renewable energy projects; educating the leaders of today and tomorrow to create a passion for sustainable energy; and representing the interests of energy conservation, energy efficiency and renewable energy in proceedings before the Pennsylvania Public Utility Commission. Visit www.thesef.org.