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Senate advances CPACE bill allowing towns to finance commercial clean-energy upgrades
Summary
The Senate advanced S138 after a unanimous committee report outlining a commercial Property Assessed Clean Energy (CPACE) program that relies on town votes, lender consent and energy analyses; reporters stressed municipal protections and lender safeguards and the bill was ordered for third reading.
The Vermont Senate on the floor advanced S138, an act to authorize commercial property assessed clean energy (CPACE) projects, after a unanimous report from the Natural Resources and Energy Committee.
Senator Hardy, the committee reporter from Addison, told colleagues CPACE “is a financing tool that allows property owners to finance the upfront costs of qualified energy, water, and resilience projects, with funding through a voluntary assessment through a town's property tax bill.” He described a three-part entry condition: a town legislative body must vote to create a CPACE district; a licensed energy analysis must show the proposed work will save energy, water or reduce greenhouse gas emissions; and mortgage holders must provide…
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