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Anthony DePrima, executive director of Delaware Sustainable Energy Utility, and county executive Matt Meyer at the signing ceremony for Delaware’s commercial PACE program

Wilmington, DE—Energize Delaware and New Castle County officials today announced the launch of an initiative that will allow commercial and industrial property owners to finance energy efficient and clean energy projects that will lead to significant savings. Projects that qualify under the statewide Delaware Property Assessed Clean Energy (D-PACE) program will be financed through a voluntary assessment on property tax bills similar to a sewer or other benefit assessment.

D-PACE will be an open-market model, using private capital to finance all projects; no taxpayer dollars will be used to finance projects. Additionally, projects must be located in a specific county that has opted into the program to be eligible for PACE financing, and New Castle is the first county to opt-in. Complete background information is available at www.delawarecpace.org.

Read the full press release.