Stakeholders from Maryland, Virginia and Washington D.C. to address ways to accelerate financing commercial energy improvements with minimal to no upfront costs
Washington, D.C. (November 9, 2017) – Businesses looking for ways to make clean energy improvements can get all of their questions answered at the first conference of its kind happening November 13, 2017 at the Metropolitan Washington Council of Governments.
Titled “Winning with PACE: Game Plans for Financing Energy Improvements”, the educational conference program content was developed by the Mid-Atlantic PACE Alliance (MAPA). PACE, or C-PACE, is an acronym for Commercial Property Assessed Clean Energy and is an innovative tool for owners of commercial property and non-profit organizations to use to finance energy-related property improvements, such as purchasing new equipment and solar panels, with no upfront costs. C-PACE programs are enabled by local governments in 13 Maryland jurisdictions and Washington, DC. Virginia has enabled local jurisdictions to also participate in this program by allowing C-PACE repayments through annual property tax bills. C-PACE assessments have an advantage over conventional financing because they are attached to the property, rather than the building owner, and are transferrable upon sale to a new owner.
The November 13th conference will feature regional and national experts in C-PACE and highlight successful projects using this model. The lunch keynote address will be delivered by Charlene Heydinger, President of the Texas PACE Authority. Other presenters will include representatives from the property owner, lender, contractor and governmental communities, and attendees will have the opportunity to share their experiences and ideas for advancing the clean energy economy in the region. The leadership of Washington D.C., Maryland and Virginia are on board and here’s why.
“Washington, DC is committed to building a greener, more sustainable city. And by decreasing our carbon footprint, we can also cut utility bills and build a city that is more resilient to the impacts of climate change,” said DC Mayor Muriel Bowser. “DC PACE financing has helped Washingtonians renovate and extend the life of aging buildings, reduce energy costs, deploy solar power, and provide safe and comfortable community gathering spaces–all at no additional costs to District taxpayers.”
“Commercial PACE is an innovative clean-energy financing tool that can be a game-changer in Virginia,” said Virginia’s Governor Terry McAuliffe. “It is a job-creating clean energy catalyst that will provide benefits to localities and our state by giving businesses the chance to better control how their facilities use energy. I encourage all localities in Virginia to look at this option as they work to reduce energy consumption and lower energy costs for businesses within their jurisdictions.”
Maryland Clean Energy Center Executive Director I. Katherine Magruder added: “Maryland is taking proactive steps to help commercial property owners to make energy improvements and reduce related costs by advancing access to PACE financing. The MD-PACE program, operated by the Maryland Clean Energy Center in partnership with many of our local jurisdictions, makes it easier to finance projects and for contractors to close deals.”
MAPA’s goals include being a resource for local governments, property owners, lenders and energy performance contractors in the Maryland, DC, and Virginia region. The group also is working to grow C-PACE programs in the mid-Atlantic to reach $80 million in loan closings by December 2019.
MAPA is a regional partnership between C-PACE program sponsors and program administrators in Maryland, District of Columbia and Virginia and other stakeholders including state and local governments and industry partners. The Alliance is supported by the U.S. Department of Energy to advance Commercial Property Assessed Clean Energy financing solutions. For more information visit the MAPA website.
Contacts: Julia Christian, District of Columbia Department of Energy and Environment
Desk: (202) 741-0842
Cell: (202) 450-7878
Tarah Kesterson, Virginia Department of Mines, Minerals and Energy
Phone: (276) 523-8146
Cell: (276) 356-3405
Alicia Moran, Maryland Clean Energy Center
Cell: (410) 991-7027