CPACE program aims to help small firms use renewable energy

Small-business owners in Colorado who have hopes of adding a solar energy installation to their offices may be in luck, thanks to recent legislation passed by the state Senate. The Commercial Property-Assessed Clean Energy (CPACE) program gives commercial property owners the ability to save on their utility bills when paying off energy projects.

The bill was sponsored by Democratic Senator Gail Schwartz, who expressed interest in weakening the financial restraints small-business owners often face when trying to invest in new installations or renewable energy installations. Not only will commercial property owners be able to add to the value of their buildings, but they will also support from the state for their solar, wind and other power project.

"For all businesses, especially small businesses, every dollar counts," said Schwatrz. "This CPACE program will help those businesses save by cutting down their utility bills. CPACE also helps foster jobs, as it grows the renewable energy and clean tech sectors.  It's a win-win, and it's a smart investment as our economy continues to recover."

How can small-business owners get involved?
There are many initiatives similar to this one in other states, but few commercial property owners know how to take advantage of such programs. Below are a few ways small-business owners who own their office space can look into to participate in the CPACE project:

  1. Join a PACE improvement district
  2. Clarify which renewable energy project the company is interested in
  3. The district issues a bond to fund the project
  4. An investor buys the bond and allows the firm to pay of the project in installments

Small businesses need more renewable energy
Not only do solar, wind and geothermal energy projects allow companies to lessen their carbon footprint, but they can also help them save money on utility costs in the long run. With initiatives like CPACE, businesses can show better corporate sustainability, an attractive characteristic for today's consumers.

"This bill is an important and optional financial tool to help promote innovation in the building sector," said Chris Votoupal, the deputy director of the Colorado Cleantech Industry Association. "Installing renewable energy features and energy efficiency upgrades to commercial properties also creates jobs for Colorado businesses - jobs that can't be outsourced."

Content presented by Bridge Bank, offering flexible, customized solutions for entrepreneurs.

Getting Started

Find your ideal banker:

Select any filter and click on Apply to see results

Featured Insights

There's good news in the big world of small businesses. According to the Kauffman Foundation's Index of...

Finding startup financing for a new enterprise or funding for a business expansion can be a challenging obstacle to...

Small business banking should be seeing a boon in the coming months provided trends continue if a recent...

Craft breweries are getting some much-needed help in making the shift to sustainable practices. The Green Brewery...

Small-business owners' confidence levels ticked up slightly last month. According to the National...

Americans' financial outlook is trending upward as consumer confidence levels...

Clarity can go a long way toward convincing an investor to buy a stake in your business. If you believe your company...

Recurring revenue lending is an alternative form of senior debt financing that is particularly useful to growing...

In 1999, Shawn Boyer was helping a friend search for internships and was shocked to find a lack of job boards or...

Small-business owners often have to scrimp and save in order to properly handle cash management issues. For many...

Recent News

05/21/15
Michael Hengl and Ryan Banta to lead new teams at Bridge Bank San Jose, CA – May 19...
05/19/15
San Jose, CA – May 19, 2015 – Bridge Capital Holdings (NASDAQ:BBNK), whose...
05/08/15
The US dollar has given up roughly 3.5% against the Euro this week and, with the...
05/07/15
San Jose, CA – May 7, 2015 – Bridge Capital Holdings (NASDAQ:BBNK), whose subsidiary...
05/01/15
More disappointing economic data out of the U.S. and the UK along with substantial...
04/24/15
With a great deal of volatility and choppy trading, the week’s activity has revealed...
04/20/15
Conference Call and Webcast Scheduled for Monday, April 20, 2015 at5:00 p.m. Eastern...
04/17/15
Our beloved World Champion San Francisco Giants played their home opener on Monday...
04/10/15
The Fed’s FOMC Minutes, released on Wednesday, were the focal point of the week as...
04/07/15
San Jose, CA – April 7, 2015 – Bridge Capital Holdings (NASDAQ:BBNK), whose...

Twitter

Featured Insights

Featured Insight

Clarity can go a long way toward convincing an investor to buy a stake in your business. If you believe your company...

Featured Insight

Recurring revenue lending is an alternative form of senior debt financing that is particularly useful to growing...

Featured Insight

In 1999, Shawn Boyer was helping a friend search for internships and was shocked to find a lack of job boards or...

Recent News

There's good news in the big world of small businesses. According to the Kauffman Foundation's Index of...

Finding startup financing for a new enterprise or funding for a business expansion can be a challenging obstacle to...

Small business banking should be seeing a boon in the coming months provided trends continue if a recent...

Twitter