The Avon Town Council recently adopted a resolution to engage Avon in a new state program that will allow commercial, industrial and multi-family property owners to receive 100% upfront, low-cost, long-term financing for clean energy upgrades to their properties. The
Commercial Property Assessed Clean Energy program (C-PACE) 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.
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, which is assessed annually alongside their property tax bills. 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. Read more.