JOLIET -- Will County has launched its C-PACE Program, a program that offers long-term fixed rate financing to businesses for energy efficiency improvement projects, becoming the seventh county in Illinois to participate.
The Will County Land Use Department’s Resource Recovery and Energy Division worked with the Illinois Energy Conservation Authority to become the project administrator for a local C-PACE, or Commercial Property Assessed Clean Energy Program.
The nationwide program pairs businesses with approved lenders which will finance projects that involve energy efficiency, renewable energy, resiliency, water use, electric vehicle charging and building improvements.
“This is a great example of local government and the business community working in concert to provide sustainable solutions and capital investment for developers and property owners,” said County Executive Jennifer Bertino-Tarrant, whose office oversees the Land Use Department. “By providing opportunities to fund efficiency projects, we have taken steps toward reducing energy use while spurring job growth and economic development.”
The program offers up to 100% long-term fixed rate financing for the assumed usefulness of the project.
“I am beyond excited and grateful that we have this program available for the citizens of Will County. This program will not only help fund large scale projects, but will also help commercial businesses and property owners save money over time.” said Christina Snitko, Will County Energy and Conservation Specialist and C-PACE project manager. “There have already been a handful of deals that have been signed and closed in Illinois, and I only hope that will continue to grow.”
Snitko says there already had been interest from some businesses about the program. “Now that we’ve launched we’re in a position to help any business or commercial property owners take advantage of this program.”
Will County’s launch was held March 17 through a virtual webinar that can be seen at iecapace.org/will-county-c-pace-program . The password to watch the video is available on the Illinois Energy Conservation Authority page. For additional information about the Resource Recovery and Energy division, go to willcountygreen.com.