The Commercial Property Assessed Clean Energy (C-PACE) program is on the verge of becoming law in Vermont. Sponsored by Sen. Thomas Chittenden and gaining strong bipartisan support, Senate bill S.138, originally introduced to expand property-assessed financing for energy efficiency, renewable energy and resilience upgrades, has been incorporated into the omnibus economic development bill S.327 and has been sent to the Governor’s desk for signature in the coming days.
Vermont has had limited residential PACE authority since 2013. C-PACE VT closes the gap for the commercial sector, bringing the state in line with 40-plus others.
“C-PACE VT will provide powerful economic benefit as a public asset tool that operates at zero cost to taxpayers and injects lower-cost capital for sustainable construction to drive development,” saidMichele Pitale, M.D., managing director & head of C-PACE, CounterpointeSRE. The company, a unit of MassMutual, is a founding leader in the C-PACE industry.
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