CPACE Move Paves Way for Financing Commercial Building Energy Improvements

Thanks to sustainable policy advocates and county commissioner support, Central Oregon commercial building owners will soon have access to low-cost long-term financing to fund up to 100 percent of clean energy improvements.

The Deschutes County Board of Commissioners recently unanimously voted to approve a “Commercial Property Assessed Clean Energy” (CPACE) Ordinance, essentially fast-tracking incentives to upgrade new or existing facilities in ways that reduce energy consumption or generate energy.

The program opens the door to using an innovative financing model that is increasingly being offered by cities and states throughout the U.S. whereby up to a period of 20 years, building owners repay the cost of eligible improvements through a “benefits assessment” on their property tax bill.