Enhancing Connecticut's C-PACE Program

This research proposes modifying Connecticut's Commercial Property Assessed Clean Energy (C-PACE) program to incentivize the use of low Global Warming Potential (GWP) refrigerants and upgrading Heating Ventilation and Air Conditioning (HVAC) systems in grocery stores across the state. Our analysis demonstrates that updating the program eligibility requirements within the existing C-PACE financing framework can significantly reduce emissions and drive economic benefits for property owners. The integration of carbon market mechanisms for refrigerant destruction could further enhance program effectiveness and provide additional revenue streams to offset implementation costs. 

The proposed program adjustments would require approximately $300,000 annually in financing for equipment upgrades and $400,000 annually to support refrigerant destruction infrastructure. We estimate such adjustments would result in an 85% reduction in hydrofluorocarbon (HFC) emissions from targeted sectors by 2036. Such a program could have the added benefits of stimulating demand for low-GWP technologies, reducing costs through learning-by-doing effects, and providing essential support for small business owners. The proposal leverages the Connecticut Green Bank’s existing program framework, creates a valuable market-pull mechanism, and positions Connecticut as a leader in addressing this important yet often overlooked piece of the GHG emissions puzzle. 

Read the full paper here: https://www.dropbox.com/scl/fi/1ljhmufgzhl23jz15s2nf/Enhancing-Connecticut-s-CPACE-Program-to-Incentivize-Use-of-Low-GWP-Refrigerants-and-HVAC-System-Upgrades-in-Grocery-Stores.pdf?rlkey=rekgjhke6v6p9121d6ktksbzp&st=52mbzdcl&dl=0