August 10th, 2021
Wilkes-Barre, PA, August 10, 2021 – On July 27, 2021, Luzerne County Council approved a Resolution to implement Commercial Property Assessed Clean Energy (C-PACE). The Council approved C-PACE to help owners of commercial, industrial, nonprofit, and agricultural property with access to low-cost, long-term financing for energy and water conservation projects.
“By passing this resolution, Luzerne County has added another resource for businesses and non-profits to grow by investing in their operations while helping the environment at the same time, said Romilda Crocamo, acting County Manager.”
The approval of the C-PACE resolution authorizes Luzerne County to enter into a Cooperative Agreement with Sustainable Energy Fund for the administration of the Program.
Now that a Resolution has been passed, Luzerne County commercial and industrial businesses, agriculture interests, and nonprofits, with the aid of private capital providers, will be able to finance clean energy and water efficiency projects. The C-PACE program, offering as much as 100% financing, will save local constituencies money and energy, while providing even greater opportunities for growth and success with this initiative.
“Sustainable Energy Fund is proud to offer its 20 years of experience in clean energy lending to Luzerne County, allowing them to take advantage of this powerful new energy finance tool for bringing investment, jobs, and clean energy to their communities,” said John Costlow, President of SEF. Commercial Property Assessed Clean Energy (C-PACE) is a financial tool for property owners to obtain low-cost, long-term financing for energy efficiency, renewable energy, and water conservation projects. C-PACE can facilitate a loan from private capital sources for a project by placing a voluntary special payment on the property’s annual tax bill that repays the cost of the upgrades. Nationally, more than $2 billion has been invested through PACE loans. In Pennsylvania, C-PACE investment could help retrofit one of the nation’s oldest building stocks and accelerate growth in a local energy efficiency industry that already accounts for 65,000 jobs.
For more information on program development, program guidelines, and links to the pre-application, visit https://www.luzernecpace.org. If you have a project and would like assistance finding a contractor or capital provider, contact SEF at (610) 264-4440.
About Sustainable Energy Fund
Sustainable Energy Fund (SEF), a nonprofit organization, assists energy users in overcoming financial, educational, and regulatory barriers to a sustainable energy future. SEF provides a variety of services including financing energy conservation, energy efficiency, and renewable energy projects; educating the leaders of today and tomorrow to create a passion for sustainable energy; and representing the interests of energy conservation, energy efficiency, and renewable energy in proceedings before the Pennsylvania Public Utility Commission. Visit www.thesef.org.