VEDA tells House committee it can lend for C-PACE, urges explicit resiliency coverage in S.138

The Vermont Economic Development Authority told the House Energy and Digital Infrastructure Committee on April 1 that it could serve as a lender under S.138’s proposed commercial property‑assessed clean energy (C-PACE) program and urged the bill to explicitly include resiliency and flood‑mitigation projects.

Joan Goldstein, CEO of VEDA, said the authority has been "an instrumentality of the state" since the 1970s and that its energy portfolio represents "a little bit more than 10%" of its business. "We are very intrigued by the C‑PACE legislation," she told the committee, arguing Vermont should not be "the laggard" on a policy already enacted in 38 states.

Why it matters: Goldstein framed C‑PACE as an economic development tool that could finance renewable energy, energy efficiency and, she emphasized, resiliency measures tied to recent flood damage. Committee members and VEDA staff warned that because the bill does not define "resiliency," the legislature should clarify whether items such as storm‑water retrofits or other mitigation measures are eligible.

VEDA said it has access to federal capital that could lower borrower costs. Sam Buckley, VEDA’s energy lender, described an awarded USDA Rural Energy Savings Program (RESP) loan that the authority expects to use. Buckley said…