HARRISBURG – Governor Tom Wolf signed legislation, Senate Bill 635, sponsored by State Senator John Yudichak (I-14) and State Representative Doyle Heffley (R-122) that will expand the Pennsylvania Commercial Property Assessed Clean Energy Program (C-PACE).
As part of Senate Bill 635, the C-PACE program will create greater opportunities for property owners to access private capital and long-term financing to implement energy efficiency, water conservation, and clean energy for agricultural, commercial and industrial properties.
Nationwide, C-PACE programs have leveraged over $2 billion in private investments and created more than 24,000 new jobs.
Senate Bill 635 expands the C-PACE program to multi-family commercial building and broadens the scope of projects covered by the program to include upgrades to ventilation systems to improve indoor air quality and reduce COVID-19 transmission and weather resiliency improvements.
“The C-PACE program has proven to be a valuable tool for property owners seeking to upgrade their properties with clean energy and energy efficiency projects,” said Senator Yudichak. “Senate Bill 635 is a strong example of how public-private partnerships can marry good public policy with private financing to improve quality of life in our coomunities.”
According to the Philadelphia Energy Authority and the Sustainable Energy Fund, multi-family units – like senior living centers “make up a significant portion of the new construction and existing building stock” in Pennsylvania.
Multiple other states – including Connecticut, New Jersey and Maryland – have expanded their programs to include resiliency improvements, which strengthen structures to combat wind, storms, rain and other natural disasters.
Similarly, indoor air quality enhancements include ventilation projects that reduce exposure to indoor contaminants, such as the COVID-19 pandemic.
“I was happy to work with Senator John Yudichak on this important legislation and help to move it through the General Assembly,” said Representative Heffley. “The bill is expected to bring up to a half billion dollars in alternative financing into the Commonwealth to fund affordable housing projects in rural and urban areas, including projects that benefit our seniors or that bring blighted properties back into use. Counties can choose to opt into the program, which involves no taxpayer dollars.”
The legislation was supported by numerous stakeholders, including housing and public health advocates, renewable energy manufacturers and installers, capital investors, builders and developers and municipalities.
Brad Hurley (firstname.lastname@example.org)