New Jersey Establishes C-PACE Program to Finance Eligible Commercial Renewable Energy Projects

March 25, 2022 | jdsupra.com

The Garden State Commercial Property Assessed Clean Energy (C-PACE) financing program was established as a mechanism to finance commercial renewal energy projects, as well as water efficiency and other authorized improvements where “capital providers” pay the up-front costs of the project and are then repaid through a real property assessment levied by the participating municipality.

NJ SEED: C-PACE appears to be an interesting experiment to attract and facilitate a broad range of projects that are in line with renewable energy, and other environmentally approved endeavors. Although the program has been initiated, it will not become operational until EDA is prepared to accept applications from counties and “authorized” municipalities.