Supporting C-PACE in Connecticut
Supporting C-PACE in Connecticut
On June 12, 2012, the Connecticut General Assembly passed the Budget Implementation bill (501) in a special legislative session. The bill included the Commercial Property Assessed Clean Energy Program (C-PACE) and lifted the cap for oil customers under the Home Energy Solutions (HES) program, allowing more residents to take part in the oil heat efficiency program. Both will contribute to a stronger Connecticut economy, energy savings, and additional jobs. NECEC was very pleased to see this bill pass, as were many other groups advocating for the bill. You can see NECEC's letter to Senate President Williams below: Dear Senate President Williams: I am emailing you on behalf of the New England Clean Energy Council (NECEC) to urge you to include language in the budget implementation bills on two issues important to energy consumers in Connecticut: .
The Commercial Property Assessed Clean Energy (C-PACE) program, and .
Lifting the $500,000 cap on the Home Energy Solutions (HES) program for oil customers.
Including the C-PACE language and lifting the cap on HES oil heat efficiency program in the budget implementation bills will benefit Connecticut's residents, businesses and industry, saving energy, lowering bills, creating jobs and reducing pollution.
The Commercial Property Assessed Clean Energy (C-PACE) program will create jobs, increase business competitiveness, contribute to the resiliency of the grid by reducing demand for electricity, and drive investment in CT.
Reducing energy consumption by 20% in just 1 in 10 commercial buildings in Connecticut will: .
Create 1230 direct jobs and 6150 indirect jobs .
Reduce energy bills by $43 million per year .
Generate $6.5 million in state and local tax revenue annually .
Save 273 million kWh of electricity annually Connecticut is notably the first state in the country to work actively with its bankers association on enabling this legislation and winning their support. C-PACE language is supported by an unprecedented array of interests, including not only the Connecticut Bankers Association (CBA), but also the Connecticut Conference of Municipalities (CCM), Connecticut Business & Industry Association (CBIA), local environmental groups such as Connecticut Fund for the Environment, Environment Northeast, and Clean Water Action, and nonprofits such as the Clean Energy Finance Center, PACE now (the national organization devoted to PACE), and the Natural Resources Defense Council.
In addition, the Clean Energy Finance and Investment Authority (CEFIA) stands ready to implement a program like C-PACE, aggregating demand for projects, sourcing capital, and bringing down the cost of capital.
Lifting the $500,000 cap on the Home Energy Solutions program for oil customers is also critically important. It would allow more households to participate in the HES program of home energy audits for oil customers. 48% of housing units in CT are heated with oil,so many residents stand to gain. There is no revenue impact for this change as the programs have already been funded. Without lifting the $500,000 cap, as many as 1,000 energy efficiency contractors may lose their jobs. Removing the $500,00 cap will not only result in more jobs, but will create energy savings for families. The oil efficiency program will also cut greenhouse emissions, putting the state closer to reaching emission reduction goals.
Support for these two issues will have far-reaching positive effects for Connecticut energy consumers.
Thank you for your consideration,