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Senate Committee OKs Bill Expanding C-PACE Clean Energy, Energy Conservation Program
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On September 29, the Senate Community, Economic and Recreational Development Committee amended and reported out Senate Bill 635 (Yudichak-I-Luzerne) which expands the Property-Assessed Clean Energy Program-- C-PACE-- to include multifamily buildings, indoor air improvements and resiliency measures. Click Here for a sponsor summary of the bill. The bill now goes to the full Senate for consideration. The current C-PACE Program adopted under Act 30 of 2018 facilitates long-term financing for energy efficiency, water conservation and renewable energy projects for agricultural, commercial, and industrial properties. C-PACE provides business property owners access to low-interest, long-term loans for clean energy and clean water projects that are repaid as property tax to benefit the community. In its first full year of existence in Pennsylvania, four C-PACE projects were completed for a total investment of $18 million of private capital. These investments allowed for enhancements to the energy and water efficiency of the properties. The list of projects currently “in the pipeline” statewide stands at $225 million, according to Sen. Yudichak. Visit DEP’s C-PACE Program webpage or the Pennsylvania C-PACE website for more information. Sen. John Yudichak (I-Luzerne) serves as Majority Chair of the Committee and can be contacted at 717-787-7105 or send email to: John@pasen.gov. Sen. Amanda Cappelletti (D-Delaware) serves as Minority Chair and can be contacted at 717-787-5544 or send email to: cappelletti@pasenate.com. Related Articles: -- Iconic Philly Met Uses C-PACE Financing For $6 Million In Energy Efficiency Investments -- Germantown Daycare First Solar Project Financed By Philadelphia C-PACE --Allegheny County Votes To Implement C-PACE Clean Energy Financing Program For Commercial Properties [Posted: September 29, 2021] |
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10/4/2021 |
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