What is C-PACE?
Commercial Property-Assessed Clean Energy (C-PACE) is a solution to these financial challenges. C-PACE is a financing tool that allows property owners to secure 100% upfront financing for energy efficiency, water conservation, and renewable energy upgrades to commercial buildings.
Like a Special Improvement District for sidewalks or sewers, the financing is repaid as an assessment on the property’s regular tax bill over a term of up to 20 years. The annual energy savings for C-PACE projects are designed to exceed the annual assessment payment, so property owners save money from the start.
This tried-and-true approach is already enabled in 36 states. To have C-PACE in Montana, we must first pass legislation that enables it… That’s what SB 245 is.
SB 245 gives the “green light” to counties across the state to start allowing people to take advantage of the program. Once the program is enabled, it is voluntary for both counties and individuals. C-PACE passed the Senate on Mar. 29 and is on its way to the House Taxation Committee (hearing date TBD). Contact members of the committee and ask them to vote YES on SB 245!
Once active, the Montana Facilities Finance Authority would have an ongoing role in administering the program and providing information for county treasurers to place C-PACE assessments on specific properties.
If there’s anything more you’d like to do in order to help pass C-PACE (letter to editor, lobby, etc.), please call (406) 248-1154, email Sydney at firstname.lastname@example.org, or email Makenna at email@example.com.
Thank you, Sen. Mary McNally (D-Billings) for sponsoring SB 245!
More info on C-PACE here!