The Fairfax County Board of Supervisors approved a Commercial PACE ordinance on March 19, allowing commercial, industrial, nonprofit and multi-family property owners to use C-PACE financing for renewable energy and energy efficiency upgrades.
Eligible projects include heating and ventilation, lighting, insulation, low-flow water fixtures, and renewable energy such as solar or wind. These projects can be undertaken as retrofits on existing buildings, or as part of new construction. With new amendments to Virginia's state-wide C-PACE statute, (SB 1559 and SB 1400) it will also allow for financing of resiliency and stormwater management measures, effective July 2019.
Fairfax has one of the Virginia's largest populations, so this development will significantly expand the state's C-PACE market. The program will be administered by a private company, to be selected through a competitive bid.
Get the full story here: here: https://www.fairfaxcounty.gov/news2/fairfax-county-creates-loan-program-for-businesses-to-make-energy-efficiency-improvements/