Code of Maine Rules › 95 - INDEPENDENT AGENCIES › 648 - EFFICIENCY MAINE TRUST › Chapter 5 - COMMERCIAL PROPERTY ASSESSED CLEAN ENERGY (C-PACE) PROGRAM REGULATIONS › Section 648-5-2 - DEFINITIONS

Current through 2024-29, July 17, 2024
For purposes of this Chapter, the following words have
				  meanings as defined in this section.
1.
Board.
The Efficiency Maine
				Trust Board established under 35-A M.R.S.A. §
									10103 and
				5 M.R.S.A. §
									12004- G(10-c).
2.
Commercial PACE ("C-PACE").
Commercial Property Assessed Clean Energy, abbreviated as "C-PACE".
3.
Commercial PACE ("C-PACE")
				Agreement.
An agreement that authorizes the creation of a C-PACE
				Assessment on qualifying property and that is approved in writing by all owners
				of the qualifying property at the time of the agreement.
4.
Commercial PACE ("C-PACE")
				Assessment.
An assessment made against qualifying property to finance an
				energy savings improvement.
5.
Commercial PACE ("C-PACE") District
. The area within which the
				City/Town establishes a C-PACE Program hereunder, which is all that area within
				the City/Town boundaries.
6.
Commercial PACE ("C-PACE") Lien.
A lien secured against a
				qualifying property that is created by a C-PACE Assessment.
7.
Commercial PACE ("C-PACE")
				Loan.
A loan, payable through a C-PACE Assessment and secured by a
				C-PACE Lien, made to the owner(s) of a Qualifying Property pursuant to a C-PACE
				Program to fund Energy Savings Improvements.
8.
Commercial PACE ("C-PACE")
				Mortgage
. A mortgage securing a loan made pursuant to a C-PACE Program
				to fund Energy Savings Improvements on Qualifying Property.
9.
Commercial PACE ("C-PACE")
				Municipality
. A municipality as defined in Title 1 M.R.S. §
									72(13)  that has
				adopted a C-PACE ordinance for the purpose of participating in a C-PACE
				Program.
10.
Commercial PACE
				("C-PACE") Ordinance
. An ordinance adopted by the legislative body of a
				municipality for the purpose of participating in a C-PACE Program.
11.
Commercial PACE ("C-PACE")
				Program.
A program established under the Commercial Property Assessed
				Clean Energy Act, administered by the Trust, a third party contracted by the
				Trust or a municipality, under which commercial property owners may finance
				Energy Savings Improvements on Qualifying Property.
12.
Commercial PACE ("C-PACE") Program
				Administrator.
The Trust, a third-party contracted by the Trust or a
				C-PACE Municipality that has elected to administer one or more of the functions
				of the C-PACE Program.
13.
Commercial PACE ("C-PACE") Act.
Title 35-A M.R.S. §
									10201
et
				seq
.
14.
Director
. The Executive Director of the Trust.
15.
Energy Savings Improvement
.
				An improvement or series of improvements to Qualifying Property that relate to
				the energy production or energy consumption on the property and that meet the
				standards established by the Trust in Section
				5 of this Chapter.
16.
Program Guidelines
.A
				document prepared by the Program Administrator to specify operational details
				by which a C-PACE Program will be administered.
17.
Property.
The real property
				that is the subject of the C-PACE application.
18.
Property Owner.
All of the
				owners (except any mortgage holder) of any Qualifying Property.
19.
Qualifying Property.
Real
				commercial property that has demonstrated conformity with the criteria for a
				Qualifying Property as defined in Section
				8 of this rule.
20.
Registered Capital Provider.
"Registered Capital Provider" or "Capital Provider" means a lender providing
				financing for the Energy Savings Improvement(s) through a C-PACE Program and
				registered with the Trust.
21.
Renewable Energy Installation.
A fixture, product, system, device
				or interacting group of devices installed behind the meter at a Qualifying
				Property, or on contiguous property under common ownership, that produces
				energy or heat from renewable sources, including but not limited to,
				photovoltaic systems, solar thermal systems, highly efficient wood heating
				systems, geothermal systems and wind systems that do not on average generate
				more energy or heat than the average annual load of the property.
22.
Technical Reviewer.
A
				qualified entity responsible for reviewing and disclosing projected costs and
				savings associated with the Energy Savings Improvement(s). The Program
				Administrator shall publish the minimum qualifications for a Technical Reviewer
				in the Program Guidelines.
23.
Trust.
The Efficiency Maine Trust established in 35-A M.R.S.
				§
									10103.