Montgomery County has selected the Montgomery County Green Bank as the new administrator for the Montgomery County Commercial Property Assessed Clean Energy (C-PACE) financing program. C-PACE is an innovative financing tool used in more than 283,000 projects nationwide to implement energy efficiency and clean energy upgrades to commercial buildings and overcome conventional financing challenges.
By adding the C-PACE program to its offerings, the Green Bank can now fully support the clean energy financing programs for County commercial property owners. The C-PACE program also helps the Green Bank further its mission as a publicly chartered nonprofit to accelerate affordable energy efficiency and clean energy investment in the County.
“The Green Bank is a natural home for our successful C-PACE program and will enhance the Green Bank’s contributions to the County’s climate goals,” said Adriana Hochberg, an assistant chief administrative officer for Montgomery County. “The County’s draft Climate Action Plan outlines the actions needed to reach our goals of 80 percent reduction of greenhouse gas emissions by 2027 and elimination of greenhouse gas emissions by 2035. Innovative financing offered by the Green Bank is a key financial tool for our community partners to undertake climate-friendly projects that make our buildings more energy efficient and resilient to climate change.”