C-PACE in Connecticut
Commercial PACE Program Launched in Connecticut
Connecticut statewide C-PACE program is launched and open for business!
Connecticut’s approach to C-PACE is exciting because CEFIA played a central role in developing statewide program standards and guidelines that municipalities will agree to follow when joining. CEFIA is empowered by the legislation to provide financing for projects.
All properties located within the boundaries of a municipality that has adopted a resolution joining the C-PACE program. Currently the following municipalities have adopted the program: Beacon Falls, Bridgeport, Durham, Hartford, Middletown, Norwalk, Simsbury, Stamford, West Hartford, Westport, and Windham.
CEFIA has developed a list of pre-approved capital providers (building owners are also free to use their own capital provider). This list could be viewed here. Program measures is designed to ensure that energy efficiency and renewable energy projects help property owners and local governments achieve their goals of saving costs, safeguarding the environment, and creating jobs. Please refer to the list of eligible improvements.
The program was put together over the summer and fall 2012. On June 12th, the Connecticut legislature approved a revised PACE statute, allowing the State’s newly formed “Green Bank”, the Clean Energy Finance and Investment Authority (CEFIA), to offer property assessed clean energy financing and program services to municipalities and commercial property owners throughout the state. C-PACE legislation was supported by a broad coalition of municipal governments, businesses, labor, and environmental organizations, who joined together to support Governor Malloy and legislative leaders.
CEFIA is a client of Wiggin and Dana LLP. Learn more.