Rep. Calvin Schrage builds on innovative energy financing program for small businesses

“It’s time to build off of this nationally successful program and encourage more investment for Alaska’s forward-thinking entrepreneurs”

ANCHORAGE – Last week, Rep. Calvin Schrage prefiled legislation to help small businesses finance commercial property energy efficiency improvements. HB 227 builds off of Commercial Property Assessed Clean Energy (C-PACE), a program enabling commercial property owners to obtain fixed-rate, long-term financing for energy efficiency and renewable energy projects. 

 

“C-PACE will help our small businesses develop their assets to be more energy efficient and profitable. It’s time to build off of this nationally successful program and encourage more investment for Alaska’s forward-thinking entrepreneurs,” said Rep. Calvin Schrage (I-Anchorage).

 

HB 227 would expand on the C-PACE program by allowing for new construction financing, incorporate Resiliency projects into the program, allow for investment refinancing, consider market values rather than assessed values, and eliminate the Savings-to-Investment ratio. Many of these changes have already been incorporated in C-PACE programs in other states and has accelerated an already thriving C-PACE market.

 

HB 227 will be read across on the House floor at the beginning of the session before being referred to committees for review.

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