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HB 1819

Commercial Property Assessed Clean Energy (C-PACE); changes to financing program, definitions.

2025 Regular Session Introduced by David Reid

HB 1819 updates Virginia's C-PACE program definitions and operations to refine commercial property green energy financing eligibility and procedures, effective July 2025.

Acts of Assembly Chapter text (CHAP0205)
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Bill Summary · HB 1819

Legislative bill overview

HB 1819 modifies Virginia's Commercial Property Assessed Clean Energy (C-PACE) financing program by updating definitions, program requirements, and operational procedures. The bill refines how energy efficiency and renewable energy improvements on commercial properties can be financed through property tax assessments, with changes effective July 1, 2025.

Why is this important

C-PACE programs enable businesses to fund building improvements (solar, HVAC upgrades, weatherization) through long-term financing tied to property taxes rather than traditional loans. These modifications affect how Virginia's commercial real estate sector can access green energy financing, potentially influencing both environmental goals and property owner accessibility to capital for efficiency upgrades.

Potential points of contention

  • Definition changes impact eligibility: Revised definitions may expand or restrict which properties and improvements qualify for C-PACE financing, affecting which businesses can participate and potentially creating winners and losers among property types.
  • Lender and investor protections: Modifications to program structure could alter risk allocation between property owners, lenders, and assessment jurisdictions, potentially affecting financing costs or program stability.
  • Local implementation burden: Changes to operational procedures may require localities to update administrative systems and staff training, creating compliance costs and potential inconsistencies across Virginia's jurisdictions.

Compiled from official sources — confirm details with the bill’s official record.

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