Earlier this month, City Council of Richmond, VA adopted a C-PACE program. Richmond property owners rehabbing or developing commercial properties soon will have a new financial incentive to include clean energy and water efficiency upgrades in their projects. The PACE program allows property owners to pursue 30-year loans to help finance clean energy improvements for both existing buildings and new construction. The approval makes Richmond the seventh locality in Virginia to take actions toward adopting a C-PACE program since 2017, when the state passed PACE-enabling legislation. Richmond's program, which takes effect July 2020 will be administered by a third party. City staff expect the pro
Fairfax County has become the fifth jurisdiction in the Commonwealth of Virginia to initiate a C-PACE program through the passage of a C-PACE enabling ordinance and selection of a program administrator. The Fairfax County Board of Supervisors approved its enabling ordinance on March 19, 2019. Upon submitting a proposal in response to RFP 2000002866-2, the Virginia PACE Authority was awarded a contract on November 14, 2019. The Virginia PACE Authority (VPA) provides Commercial PACE (C-PACE) program administration services exclusively for Virginia cities and counties -- in addition to Fairfax county, VPA is also the program administrator for Loudoun County and the City of Petersburg. VPA is co
The Loudoun County C-PACE program officially launched earlier this year. The program is administered by Virginia PACE Authority, which held its first program workshop earlier this month (presentation here). The Loudoun County C-PACE Program is an innovative C-PACE Financing program that offers an open-market solution for building owners and promotes clean energy and economic development. The Program enables owners of commercial and industrial property owners to obtain low-cost, long-term financing for energy-efficiency, renewable energy, and water efficiency improvements. C-PACE Financing helps property owners overcome financial barriers that typically discourage investment in energy and wat
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