Otero County inks C-PACE agreement

County commissioners approved at Monday’s Board of County Commissioners meeting a resolution allowing for execution of a participation agreement with the Colorado Commercial Property Assessed Clean Energy program.

C-PACE was formed under the Colorado New Energy Improvement District and allows building owners and property developers to finance installation of clean energy and water conservation solutions.

“C-PACE is for commercial buildings,” said Economic Development Coordinator Danelle Berg. “Whatever they do to the building must reduce utilities costs, whether that’s electric, or gas or water. It can also be a housing unit of five units or more. … This can be things like energy-efficient windows, rooftop solar or a solar garden, it can be water conservation, it can be natural gas savings, all of those types of things.”

C-PACE sources funds from outside financiers, who fund up to 100 percent of the cost of clean energy and water conservation projects, Berg said at Monday’s meeting.

The program currently has 29 financiers, most of whom are community banks and credit unions, according to C-PACE Director Tracy Phillips.

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