Building owners can now use the Commercial Property Assessed Clean Energy (C-PACE) program to pay for the installation of electric vehicle charging infrastructure, the Connecticut Green Bank announced.
Through an expansion of the C-PACE “retrofit financing” program, building owners can cover the cost of installing EV-charging infrastructure, which can be combined with solar and other energy-efficiency measures.
“While state and federal incentives provide significant cost reduction for electric vehicle supply equipment installed at commercial properties, we realized that the upfront cost can still be prohibitive for building owners,” said Mackey Dykes, vice president of financing programs at the Green Bank. “Expanding the scope of our building solutions to include these projects allows us to help businesses and workplaces support the adoption of this vital infrastructure throughout the state.”
C-PACE retrofit financing allows building owners to pay for energy and infrastructure upgrades over time through a voluntary benefit assessment. Building owners work with a contractor to develop the clean energy projects.
C-PACE retrofit projects are structured so that energy savings are greater than the payments, according to Connecticut Green Bank. C-PACE has been used to finance projects as small as $30,000.
To learn more, register for an informational webinar at 11 a.m. April 19 at https://attendee.gotowebinar.com/register/7196893371671427159 or visit www.ctgreenbank.com/c-pace-ev/.
