The problem: the upfront costs of solar and other energy capital projects can be steep and out of the reach of many small-business owners.
The solution: a title loan for clean energy improvements that removes most of the risk and allows business owners to reap the savings of clean energy.
A new program in Colorado provides affordable loans to business owners to install solar panels, revamp their heating and cooling systems, upgrade irrigation systems and other energy-related capital projects.
Called COPACE (Colorado’s Commercial Property Assessed Clean Energy) the program creates a statewide special district through which business owners can take out loans attached to the titles of their property.
The key is the loan stays with the title, removing the long-term risks of upfront energy-efficiency investments. If a business decides to sell a few years after taking out the loan and making energy improvements, the loan stays with the building, not the person.
Why does this matter?
Many clean energy improvement require sizable upfront investments that put them out of reach of many small-business owners. COPACE is a market-based solution that lets people make the best choice for their business. No one is required to participate.
What we want to do
COPACE only works if county governments decide to opt-in to the program. We need to convince the commissioners in Mesa, Delta. Montrose and other Western Slope counties to opt in to COPACE. Counties from Boulder to Garfield are already leading the way. We should join them.
To learn more about COPACE contact Mesa County organizer Matt King at [email protected] or 970-640-4061.