Virginia House Bill (HB) 1819 for the 2025 session, also known as VA HB1819, provides updates to the Commercial Property Assessed Clean Energy (C-PACE) financing program. The bill modifies the C-PACE program by expanding eligible property types to include leasehold owners, common areas, and commercial condominiums, and allows the Department of Energy to act as a statewide sponsor for a loan program that local governments can opt into.
Key changes include:
Leasehold Owners
Clarification that leasehold owners of eligible properties can participate in a C-PACE loan program with the consent of the fee simple owner.
Eligible Properties
Expands the definition of eligible properties to include common areas of condominiums and cooperatives, commercial condominiums, and properties with five or more units.
Statewide C-PACE Loan Program
The Department of Energy is authorized to serve as a statewide sponsor for a C-PACE loan program. Localities can opt into this statewide program by executing a locality agreement within 30 days of adopting or amending their own C-PACE ordinance.
Loan Application Timeframe
The period within which a locality can accept loan applications after issuing a certificate of occupancy is extended from two to three years.
Purpose of Improvements
Promotes the financing of improvements related to energy efficiency, renewable energy, resiliency, flood mitigation, and other eligible enhancements.
Read the press release here.