Philadelphia C-PACE Program Guidelines: Public Comment Period Closed

Thanks to those of you who shared comments on the proposed Philadelphia C-PACE Program Guidelines. They will be updated shortly and posted in the Program Resources page.

As Philadelphia’s C-PACE Program Administrator, the Philadelphia Energy Authority regularly updates our C-PACE Program Guidelines. PEA is offering C-PACE stakeholders an opportunity to provide comments on the changes before they are finalized.

Three documents are available for review:

  1. Redlined version of the Program Guidelines against the version which is currently in effect
  2. Clean version of the proposed Program Guidelines
  3. Slide deck of major changes made to Philadelphia’s Program Guidelines since the original version published in October 2019.

The deadline for submission is January 18, 2022. 

A Google Form has been created to submit comments. 

Please submit only one response per organization.

Email CPACE@philaenergy.org if you have any questions. If you are unable to use Google Forms, email CPACE@philaenergy.org and we will make other arrangements.

Temporary COVID-19 Extension for Retroactive C-PACE Financing project eligibility

Philadelphia C-PACE Program

December 9, 2021

In response to the COVID-19 pandemic and the resulting protracted impact on the capital markets for commercial real estate, the Philadelphia Energy Authority, the Philadelphia C-PACE Program Administrator, will allow up to a 6-month extension of the deadline for Retroactive C-PACE Financings for projects completed on or before December 1, 2020. 

Per Section 11 of the Philadelphia C-PACE Program Guidelines, retroactive financings must close within 730 days of the project’s construction completion date or when the project received its certificate of occupancy. 

With this extension, projects that received their Certificate of Occupancy or equivalent on or before December 1, 2020 have been granted an extension of up to an additional six months (183 days) of retroactive eligibility or until December 1, 2022, to complete C-PACE Financing, whichever date is sooner. Several examples follow:

EXAMPLE
Certificate of Occupancy or Equivalent
Final Date for C-PACE Financing Closing
August 1, 2019+913 days = January 30, 2022
December 31, 2019+913 days = July 1, 2022
June 30, 2020+884 days = December 1, 2022
August 15, 2020+838 days = December 1, 2022 
December 1, 2020+730 days = December 1, 2022

All retroactive project applications must continue to adhere to the requirements in the Philadelphia C-PACE Program Guidelines

C-PACE Expansion March 21, 2022 Update

UPDATE March 21, 2022: Since the House passed HB 1760 on January 24th, no action has been taken to advance C-PACE expansion legislation despite broad, bipartisan support. Either the House or the Senate must vote to approve the other chamber’s bill for C-PACE legislation to be sent to Governor Wolf for his signature. 

If you are a developer or capital provider with a project that is impacted by this delay and are willing to contact key legislators to demonstrate your support of the bill’s passage, please contact Matt Stern at mstern@philaenergy.org for more information.

Please also note that should the C-PACE expansion bill be passed into law at the state level,  there is a 60-day waiting period before it can take effect. Upon passage at the state level, counties must also implement necessary local updates including amendments to ordinances and program guidelines to allow projects to be financed under the expanded guidelines. Implementation timelines will vary county by county.

UPDATE January 24, 2022: HB 1760 passed the House 200-0! Both the House and Senate bills have made it through their respective chambers. One chamber will need to approve the other’s bill before it can be sent to Governor Wolf for signature. 

UPDATE January 12, 2022: HB 1760 was referred to House Appropriations on January 12. Before being referred, the bill was amended to ensure that the language of the bill was identical to its Senate counterpart SB 635, a procedural step that helps prime the bill for passage. 

UPDATE December 15, 2021: On its last day in session in 2021, SB 635 was passed by the Senate by a vote of 42-8! The House and Senate are now adjourned until the new year. When they return in late January, HB 1760 will first need to be passed out of Appropriations before it’s ready for a full House vote.

UPDATE December 13, 2021: HB 1760 was voted unanimously out of the House Commerce Committee!

Adopted in 2018, Pennsylvania’s Commercial Property-Assessed Clean Energy (C-PACE) financing allows commercial property owners to borrow money for energy efficiency, renewable energy, and water conservation projects. Repayments are made via a special assessment similar to a property tax assessment. 

In the program’s first two years, C-PACE brought $72 million of private capital to the Commonwealth to make its buildings more efficient, more comfortable, and less expensive to operate. 

Given the success of the C-PACE program to date, Philadelphia Energy Authority (PEA) and many other organizations are supporting proposed legislation to expand C-PACE-eligible projects in Pennsylvania

The legislation would expand eligibility for C-PACE funding to include:

  • Multifamily commercial buildings of 5+ units
  • Indoor air quality improvements (such as COVID-19 mitigation)
  • Resiliency improvements

Legislation to expand the scope of C-PACE-eligible projects has been introduced in both the Pennsylvania House of Representatives and Senate. To expand the benefits of C-PACE financing to Pennsylvania’s businesses, clean energy workforce, and residents, we need your help. 

House Bill 1760 and Senate Bill 635 both need to be voted out of their respective committees to keep the momentum going on C-PACE expansion. 

For more background on the expansion legislation, please visit Keystone Energy Efficiency Alliance’s C-PACE website.