Commercial property owners stand to win big if Commercial Property Assessment Clean Energy is enabled with the passage of SB245. C-PACE would provide business owners and ag producers access to 100 percent up-front financing to make energy efficiency and renewable energy improvements to their properties. Old, inefficient buildings have high utility bills. This program would provide the ability to upgrade — think energy efficient windows and water efficient fixtures; think new heating and cooling systems, lighting improvements and more.
C-PACE is a financing tool. The cost of these upgrades is repaid as a small assessment on the property’s annual tax bill over a term of 20 years. The annual energy savings for C-PACE projects are designed to exceed the annual assessment payment, so property owners save money from the start. C-PACE programs do not use public money.
C-PACE is an investment in the property, not a loan to the property owners. The assessment stays with the property even if the owner might sell and move on.
Thirty-six states make C-PACE available. It requires state legislation to enable C-PACE and once passed, it gives counties the ability to develop C-PACE districts. Projects are funded by private capital providers, like banks and investors, and facilitated by a state administrator.
C-PACE creates local jobs for HVAC, lighting, insulation and electrical contractors. This program supports small business owners and ag producers, increases property values, and leads to economic development for our Montana communities, big and small.
Let your senator know you support SB245.