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This month, the Utah Governor’s Office of Energy Development (OED) will launch an updated version of Utah’s Commercial Property Assessed Clean Energy (C-PACE) financing program. With the help of a substantial stakeholder group, OED introduced a proposal in the 2017 legislative session to revise the program processes and structures to encourage greater use of the financing tool.

C-PACE is a way to finance energy efficiency, renewable energy, water conservation and other building improvement projects on commercial real property. C-PACE financing started in the United States in 2009 and there are currently 46 active PACE programs in operation in the U.S. As of December, 988 commercial C-PACE projects have been completed nationwide totaling $322 million financed.

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