Environmental Attorney Matthew Karmel Quoted Re New Clean Energy Program in NJ
Matthew A. Karmel, an attorney in Riker Danzig’s Environmental Law Group, was recently quoted in an article entitled “New Jersey Turns to Property Assessed Financing to Boost Commercial Clean Energy Investments” on Utility Dive, an online news source covering trends for the utility industry. The article discusses the Garden State Commercial Property Assessed Clean Energy (“C-PACE”) program, which allows property owners to finance renewable energy improvements through special tax assessments. Matt shared his thoughts on the new program’s benefits, such as enabling property owners to cover costs upfront and offer lenders more security because the repayment of financing is tied to the property tax bill. "As New Jersey works diligently to address climate change at all levels, this is an important tool to allow private sector capital to efficiently finance the renewable energy transition," said Matt. "If the Garden State can't encourage renewable energy investment through the private sector, it will have to spend public dollars to reach its ambitious goals."
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