The Alaska Energy Authority (AEA), with support from PACE Financial Servicing (PFS) and the Alaska C-PACE Advisory Group, has published final versions of the Alaska C-PACE Guide to Establishing a C-PACE Program and the Alaska C-PACE Program Handbook on the Alaska C-PACE website.
Commercial property assessed clean energy, or “C-PACE” financing is a form of long-term, non-recourse debt that facilitates private financing for energy related upgrades to non-residential properties. C-PACE financing drives private sector investment in local communities, helps local governments meet efficiency and clean energy standards, creates energy and construction jobs, and lowers the cost of energy in Alaska.
In 2020, AEA convened a series of stakeholder webinars to solicit feedback on design elements of a program platform for municipalities that wish to adopt C-PACE financing programs in Alaska. These webinars were open to the general public and allowed a representative cross-section of Alaskan industry and government to provide feedback on standardized requirements for C-PACE in Alaska. A draft Program Handbook was then published on the Alaska C-PACE website to allow for further public comment.
One of the primary takeaways from this initiative was the need for a handbook for C-PACE users and a separate guide for municipalities looking to establish a C-PACE program:
AK C-PACE Guide to Establishing a C-PACE Program – This document is to educate municipalities in Alaska that are interested in establishing a C-PACE program. It describes the processes necessary to establishing a program, administering a program, and includes all those documents requisite to establishing and administering a C-PACE program.
AK C-PACE Program Handbook – This document is for municipalities to use in administering a C-PACE program once established. It is the most critical document for any C-PACE program. It outlines the program requirements and application process and will be instrumental in helping property owners, capital providers, contractors, and other stakeholders understand the program and the financing requirements. It includes an Appendix which lists all those municipalities that have adopted a C-PACE program in Alaska along with contact information and program fees.
The final Guide and Handbook can be found here.