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A new program allows commercial property owners to finance clean energy projects with up to 30 years to repay.

It’s called Commercial Property Assessed Clean Energy and is a nationwide program adopted by Oregon. Deschutes County approved it in May. It allows commercial property owners to defer upfront costs when adding energy-efficient measures to their buildings.

Repayment is tied to the property and enables property owners to show a positive cash flow immediately.

Only two counties in Oregon have adopted this program, Multnomah and Deschutes, said Paula Latasa, manager of 350 Deschutes, a nonprofit formed to educate the community about climate change solutions. Nationwide, 38 states have adopted the federal program, Latasa said.

“The benefit to the county is in meeting its water and energy conservation goals,” Latasa said. “It will help the city of Bend achieve its climate action plan and help the community update old buildings.”

Essentially it’s an affordable tool that allows commercial property owners to obtain green-energy funds from a private lender to pay for projects that ultimately will improve the community and the property, Latasa said.

Tom Kelly, chairman of the remodeling and building company Neil Kelly, said the company used this program four years ago to put solar panels on a Portland office building at a time when other financing was not available.

In Bend, the company intends to use the program on developments in town, Kelly said.

The program creates access to private capital for developers and commercial and multifamily property owners for efficiency, clean renewable energy and resiliency projects.

Participants can secure up-front financing for water conservation, energy saving or generating measures, energy storage and electric vehicle charging stations. Financing can be for new or existing developments and can include hard and soft costs.

Kelly said that his company has already paid off the private lender.

Another developer, Roost, is considering using the program on a 36-unit multifamily project on Fourth Street and Olney Avenue in Bend, Latasa said. The project would be a three-story, highly efficient multifamily housing with rooftop solar.

“The program is a game changer for commercial businesses,” Latasa said. “In the past, it was challenging to finance these types of improvements because the payback is longer than typical loan terms. The program reduces the operating costs today and creates long term benefits.”

Go Clean Energy Conference for commercial property owners, promoted by 350 Deschutes, is scheduled from 9 a.m. to 4:30 p.m. Oct. 6.

The in-person or virtual event will be held at  Central Oregon Community College.

Cost is $50 for all day, veterans $29, and students are free with valid ID. Continuing Education Credits will be available for real estate brokers.

Register at: https://gocleanenergy.org/