The National Association of State Energy Officials (NASEO) today released a new report on design considerations for a Commercial Property Assessed Clean Energy (C-PACE) Program for the Alabama Department of Economic and Community Affairs (ADECA) Energy Division, the State Energy Office.
While Alabama is in the early design phase of C-PACE, the state recognizes that financing options for resilient and energy-efficient property improvements can be a strong driver of economic development. C-PACE is a tool that can attract private capital investment towards much-needed commercial and industrial property upgrades and construction projects. ADECA’s efforts to develop a C-PACE program will streamline the financing process and reduce costs for potential customers and capital providers, provide consistent program rules and guidelines across local government jurisdictions, and deliver reliable technical assistance to all parties throughout the financing process.
A well-designed program ensures that C-PACE financing becomes well understood and used by building owners, capital providers, and other critical stakeholders in the state. Considerations for an Alabama Commercial Property Assessed Clean Energy (C-PACE) Program: Utilizing Trends, Data, and Experiences from C-PACE Programs Across the Nation offers a starting point for ADECA when making key decisions in the introduction and implementation of C-PACE financing, and draws on lessons learned from existing, established C-PACE programs across the country.
“State Energy Offices play a critical role in providing oversight and guidance towards the establishment of a successful C-PACE program in a state,” said ADECA Energy Division Chief Maureen Neighbors. “This report provides information on the potential directions Alabama can take with a C-PACE program and identifies best practices from other established programs that we can draw on to rapidly deploy C-PACE financing throughout the state.”
This report was made possible with funding from the U.S. State Energy Program. Download the paper and view other NASEO C-PACE resources at https://naseo.org/publications.
NASEO is the only national non-profit association for the governor-designated State Energy Directors and the over 3,000 staff of their offices from each of the 56 states and territories. Formed by the states in 1986, NASEO facilitates peer learning among state energy officials, serves as a resource for and about state energy policy, and advocates the interests of the state energy offices to Congress and federal agencies. www.naseo.org