The Jordan Institute, a Concord-based non-profit organization focused on promoting energy-efficiency and renewable energy projects, is teaming with Trumbull, Conn.-based Sustainable Real Estate Solutions, to develop and administer New Hampshire’s new Property Assessed Clean Energy for Commercial program, or C-PACE, which is expected to be launched in 2015.
According to Laura Richardson, executive director of The Jordan Institute, C-PACE financing is an innovative tool that, similar to a sewer assessment, connects loan repayments for energy-efficiency and renewable energy projects to the commercial building, and not the building’s owner.
She said it is an entirely voluntary opt-in program for municipalities, capital providers, contractors, existing mortgage holders and building owners. In fact, before the financing can be accessed, municipalities must adopt the program prior first.
Through the NH C-PACE program, Jordan Institute and SRS will connect municipalities, capital providers, commercial building owners, architects, engineers, builders, contractors and installers via a streamlined process to provide financing for “well-designed” projects, Richardson said.
A “well-designed” project is defined as having projected energy cost savings exceeding the cost to install the measures and repay the private capital loan. Read more.