Developers and commercial landlords looking to add an amenity to their buildings have a new way to do it.

The Connecticut Green Bank announced this week it had relaunched its Charge Up CT Buildings program, which offers full and free financing for property owners making energy improvements like electric vehicle chargers using its C-PACE financing program. The initiative was put on hold in March due to COVID-19 restrictions.

C-PACE (Commercial Property Assessed Clean Energy) is a financing tool that provides building owners with access to 100 percent financing for energy improvements. C-PACE can also support building owners in reducing operating expenses and increasing cash flow.

“The Green Bank is enabling building owners to take control of their energy costs and save money by using C-PACE, which could provide many borrowers the breathing room they need while the economy recovers and things get back to ‘normal,’” CT Green Bank Vice President of Financing Programs Mackey Dykes said in a statement. “But with C-PACE and Charge Up CT Buildings, we’re also helping borrowers to position their properties and businesses – and our community – for future success, and a better, new ‘normal.’ Borrowers will not only make their buildings more modern and attractive, but their customers, tenants, and employees will be able to charge up and enjoy the benefits of electric vehicles.”

The Alliance of Auto Manufacturers, Advanced Technology Vehicles Sales tracker reports 12,660 electric cars were owned in Connecticut through June 2019. The numbers of electric vehicles sold in the state each year had climbed by large amounts from 2014 to 2018. While data for all of 2019 was not yet available, the state was on pace to beat its 2018 sales figures as of June 30 2019.

To qualify for a free EV charging station, energy saving projects must utilize at least $150,000 in Green Bank C-PACE financing with at least 20 percent  of the total project costs going toward non-renewable measures. Larger projects may be eligible to receive up to three electric vehicle charging stations. Connecticut Green Bank’s C-PACE team will work with building owners to determine if their project is eligible for the C-PACE program and Charge Up CT Buildings incentive.

Property owners will now have until December 18, 2020 to apply for C-PACE financing in order to be eligible for this limited time promotion. Property owners are encouraged to contact the Green Bank early to start the application process.

For more information visit chargeupct.com.