Program allowing business to apply for loan to cut down on greenhouse gas emissions

CHARLOTTESVILLE, Va. (WVIR) - Albemarle County is part of a program designed to help both new and existing buildings reduce their impact on the environment.

Commercial Property Assessed Clean Energy (C-PACE) is a program through which businesses can apply for financing to cut down on greenhouse gas emissions.

“It’s one way of helping to deal with the obstacle of lack of upfront capital to make the kinds of extra investments where you would see clean energy or energy efficiency upgrades,” Albemarle County Climate Protection Manager Gabe Dayley said.

With the loan, businesses can make investments into energy efficiency projects like solar panels.

“This is a property assessment that’s attached to the building and moves with the building to the next property owner,” Dayley said. “We see it as being beneficial in that it incentivizes private sector action to reduce greenhouse gas emissions.”

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