State Policy Description

Hawaii - Commercial Property Assessed Clean Energy

Description

Commercial Property Assessed Clean Energy (C-PACE) is a financing mechanism used by local governments that allows commercial, industrial, and multi-family property owners to finance energy efficiency and renewable energy improvements through their property tax payment. The repayment of qualified energy improvements is done via a voluntary property tax assessment collected by local governments, just as other public infrastructure investments are financed. The financing for PACE projects may be provided by municipal bonds or third party capital secured by the property assessment payments. Repayment responsibility transfers to the next owner if the property is sold. For more information, see the full policy brief.

For more information on the components of the policy see the full policy brief.

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More Information

Recent Legislation