Commercial properties and large residential developments in participating municipalities can apply for financing that covers 100% of the upfront costs for renewable energy and energy efficiency projects. Eligible properties include commercial, industrial, non-profit, mixed-use, agricultural, and multi-family units. Projects greater than $100,000 may be eligible
The New Jersey Economic Development Authority established a “Garden State C-PACE program” to facilitate the financing of Commercial-Property Assessed Clean Energy (C-PACE) projects in municipalities that opt in. While PACE financing usually entails voluntary assessments on property, the Authority can also establish a loan loss
The Nevada Renewable Portfolio Standard requires electric providers in Nevada to increase the amount of sales that are derived from qualifying renewable energy sources incrementally up to 2030, when 50% of all sales are required to come from these renewable resources. Eligible renewable energy sources
Local municipalities in Oregon are able to create special improvement districts where property owners can access PACE financing for renewable energy and energy efficiency projects. Municipalities can issue bonds or borrow money from the Oregon Department of Energy Energy Efficiency and Sustainable Technologies Loan Program
In Rhode Island, all public building construction (including schools) and public building renovation projects involving 40% or more of the building must achieve certain energy efficiency and green building standards. This requirement applies to structures of 10,000 sq. ft. or more.
Local governments in Virginia are authorized to offer PACE financing for renewable energy, energy efficiency, and water efficiency projects at commercial properties. Property owners and developers receive long-term,100% financing from qualified capital providers,
Executive Order D 2022 016, signed by Governor Jared Polis in 2022, sets energy standards for public buildings in Colorado to meet the state’s renewable energy and GHG emissions reduction goals. It requires that all executive state agencies and departments ensure that at least 7%
The DC Green Bank is a quasi-government institution helping to use innovative financing mechanisms to lower barriers to renewable energy deployment. It offers several products for residential, commercial, and industrial customers, including the Commercial Loan for Energy Efficiency and Renewables (CLEER) and the Community Impact
The Illinois Clean Energy Innovation Fund is a revolving investment fund seeded by a grant from the state of Illinois and the U.S. Department of Energy. It is now managed by Evergreen Climate Innovations, a non-profit investment fund. This fund makes direct investments in high-potential,
Maryland allows local governments to establish PACE programs, where property owners can borrow money to pay for energy improvements and pay it back through a special property assessment over time. Maryland also developed a statewide PACE program. PACE programs can finance a broad range of
