Delta County Contractors and Project Developers will have the opportunity to widen their client base under a new financing mechanism adopted in Delta County, C-PACE (Commercial Property Assessed Clean Energy). Participating contractors must complete a C-PACE contractor application and attend an in-person contractor training. Solar Energy International and Delta County Economic Development have partnered with the Colorado Energy Office to offer a free half-day workshop to meet the in-person training requirement.
The workshop will be held from 8:30 am to 12:00 pm on Thursday, March 9 at Solar Energy International’s classroom (138 Grand Ave., Paonia). At the workshop, C-PACE experts will help contractors and project developers identify eligible projects, and prepare a proposal for an optimized project that includes C-PACE financing benefits. “Join us on March 9 to put C-PACE financing in your tool bag, and start developing projects as a registered C-PACE contractor,” said Tracy Phillips, director of the C-PACE program.
In December 2016 Delta County became the twelfth county to opt-in to an agreement with the state’s New Energy Improvement District (NEID) to participate in Colorado’s C-PACE program. PACE, which stands for Property Assessed Clean Energy, is an innovative financing model that enables building owners to fund 100% of the cost of energy efficiency, renewable energy, and water conservation improvements. Owners repay the cost of eligible improvements through an assessment on their property tax bills. Colorado C-PACE funding can help commercial properties pay not only for clean energy but also new heating and cooling systems, lighting improvements, water pumps, insulation, and other building improvements.
Utilizing C-PACE, owners repay the cost of eligible improvements over a period of up to 20 years through an additional charge (“assessment”) on their property tax bill. The resulting energy savings typically outweigh the annual assessment payment, thereby enabling cash flow positive projects. Because the assessment is tied to the property, the repayment obligation automatically transfers to the next owner if the property is sold.
PACE financing provides property owners a number of other benefits including: 100% financing, no out-of-pocket expense, long term loan (up to 20 years), lower energy costs, cash flow positive projects, no personal guarantees, competitive rates and terms, and the owner retains all tax incentives. “Opting-in to C-PACE in Delta County opens the opportunity to increase businesses’ property value, save substantial money on their energy bills, while generating large local investments, both in our tax base and our infrastructure” stated DCED board member and local business owner, Tom Huerkamp. The trickledown effect of C-PACE may include increased hiring of roofers, plumbers, and general contractors to locally complete projects.
Register for the training event on Thursday, March 9 HERE. Contact Marla Korpar at 970-527-7657 x213 for more information.
Image: Empowered Energy Systems installed 25 kW of solar PV on local business ProSpace Interiors of Delta during summer 2016 to 100% offset the building’s energy consumption.