Government
New Canaan Close to Joining Clean Energy Program C-PACE
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New Canaan is close to opting into a program that would allow commercial property owners to access very low-interest financing for energy efficiency upgrades to their buildings. Through the Connecticut Property Assessed Clean Energy program, building owners finance qualified improvements through a voluntary assessment on their property tax bills. Selectman Beth Jones said Tuesday that for-profit businesses as well as nonprofit organizations. “It is virtually a no-interest loan that you pay back, and it’s guaranteed through your property tax but it’s paid back with the savings you get from energy,” Jones said during the Board of Selectmen meeting, held in the training room at the New Canaan Police Department. “They [C-PACE], if they can prove there are energy savings, they will back it with a no-interest loan as part of Connecticut’s effort to have clean energy and to conserve energy, and from looking at it, there is nothing to lose,” she added.