OLR Bill Analysis
AN ACT CONCERNING THE COMMERCIAL PROPERTY ASSESSED CLEAN ENERGY PROGRAM.
This bill adds district heating and cooling projects to the types of energy efficiency and renewable energy improvements that may be financed under the commercial property assessed clean energy (C-PACE) program. Under current law, energy efficiency and renewable energy improvements are eligible for the program.
District heating and cooling systems typically include a (1) network of pipes that connect buildings and (2) a central facility used to heat and cool them. The Legislative Office Building and the Capitol are served by such a system.
EFFECTIVE DATE: Upon passage
The law requires the Clean Energy Finance and Investment Authority to establish a C-PACE program for qualifying commercial property (including multifamily buildings with five or more units). Under the program, owners of qualified commercial property in participating municipalities may finance energy improvements with the cost repaid by a special assessment on the participant's property tax bill. Municipalities can participate in the program under a written agreement approved by their legislative bodies.
Energy and Technology Committee