In August, Brookfield opted into a new state program that will allow commercial, industrial and multi-family property owners to receive 100 percent upfront, low-cost, long-term financing for clean energy upgrades to their properties.
The Commercial Property Assessed Clean Energy (C-PACE) program is administered by the Clean Energy Finance and Investment Authority (CEFIA) as part of the state’s Energize Connecticut initiative, which is intended to help consumers save money and use clean energy.
Brookfield has over 110 buildings eligible for C-PACE.
C-PACE allows building owners to access capital to finance qualifying energy efficiency and clean energy improvements by placing a voluntary assessment on their property tax bill.
Property owners pay for the improvements over time through this additional charge without having to use their own capital.
The repayment obligation transfers automatically to the next owner if the property is sold.
Typical C-PACE measures include high efficiency lighting; heating, ventilation and air conditioning (HVAC) upgrades and controls; high efficiency chillers, boilers, furnaces and water heating systems; building envelope improvements; energy management systems; and renewable energy systems such as solar and fuel cells. Read more.