Maryland PACE, a statewide partnership anchored by the Maryland Clean Energy Center to promote the finance of energy saving projects for commercial properties, announced today that the first C-PACE (Commercial Property Assessed Clean Energy) financed project in Kent County has been approved. State-wide, the approval marks the third in the nascent program’s history and the first for a ‘main street’ retail business. The Finishing Touch, a custom frame and print boutique in downtown Chestertown, owned by Robert Ramsey, will utilize the commercial PACE (C-PACE) program to finance $134,438 in energy savings improvements including new windows and a full HVAC system upgrade. The program is not a g
Greenworks Lending, a specialty finance company dedicated to commercial property assessed clean energy (C-PACE) today announced it has closed the first securitization of its type. The securitization arranged by Guggenheim Securities with TIAA Investments (an affiliate of Nuveen) as the lead investor, will net proceeds of $75 million. This is the first securitization of solely commercial PACE (C-PACE) assets by any lender in the nation. C-PACE programs are public-private partnerships approved at the state level. They allow for commercial properties, including industrial, retail and multifamily buildings to finance energy saving infrastructure and repay the investment through a property tax as
Governor - 2017 Energy Efficiency Day StartFragment WHEREAS, energy efficiency is using technology that requires less energy to perform the same function; and WHEREAS, reliable, affordable energy is vital to our economic prosperity, and energy efficiency is the most productive and cost-effective way to meet our energy needs; and WHEREAS, implementing clean energy policies and programs helps boost economic opportunities and job creation while continuing to move toward a sustainable future; and WHEREAS, cutting energy waste saves U.S. consumers billions of dollars on their utility bills annually, up to $500 per household from appliance efficiency standards alone; and WHEREAS, more than 75,000
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