Green New Deal sinks its claws deeper into the General Assembly, our wallets

The authorization of something called (CPACE) in the North Carolina Senate the other day likely flew below most people’s radar.  Commercial Property Assessed Clean Energy (CPACE) was hailed by the Governing Class and the ever-so compliant drive-by media like THIS:

The legislature advanced a new financing program Thursday that aims to make clean energy upgrades more accessible, including rooftop solar, energy efficient HVAC systems and LED lighting.

Commercial Property Assessed Clean Energy (CPACE) financing allows businesses to borrow money for upgrades and pay it back over time through a small increase in property taxes. [….]

You may remember, at the end of the Tillis era on Jones Street, Republican coddling of solar and wind energy interests took off like a shot.  (So did campaign contributions from those interests to key GOP legislators, as well.)

Property taxes, eh?  Most of the employers who move to the state with the assistance of the state Department of Commerce end up paying little to no taxes as part of their incentive package.  Neither do many folks who move into long-abandoned manufacturing facilities. So, how would this scheme work with folks like that?

The Biden Department of Energy LOVES CPACE.  They’ve even provided a list of lenders — mostly venture capital types — to help get potential customers started.  Soooooo — the government will be acting as the accounts receivable operation for these lenders?  They are saying the “loans” get paid back over the years in the form of “small property tax increases.”

If the clean energy agenda is such a good thing, WHY does it require wrapping yourself and your business up in a sketchy financing deal with the government and lenders you don’t know for years to come?  (*Why not just go grovel to that guy Vito down on the street corner?*)

This also looks like it dovetails nicely with the so-called ESG (Environmental, Social, Governance) method for determining a business’s standing / credit-worthiness.   The folks who LOVE DEI will do cartwheels over ESG.


[… ] Clean energy advocates, including Matt Abele with the North Carolina Clean Energy Association, applaud the move.

“It’s a monumental step in clean energy here in North Carolina,” Abele said.

More than 38 states have already passed legislation for CPACE programs and more than $2 billion in projects have been financed nationwide, according to the Department of Energy.

“This is going to help those businesses put more money back into their pocket, be able to pay their employees more money and continue to reinvest in the communities that they are already invested in,” Abele said.

State Treasurer Dale Folwell has strongly opposed efforts to introduce a state CPACE program in recent years.

“CPACE is a form of predatory lending,” Folwell said. “It manipulates the free market to incentivize small businesses to be offered loans that will have higher interest rates and a higher rate of default.

“It’s also particularly concerning that when used for so-called green energy projects, that by the time the borrower has a problem, the lender is far removed from the transaction and has no liability if the project never meets its cost savings targets, leaving small business owners holding the bag to keep paying for something that isn’t working.”


Gambling. THC gummies.  medical marijuana.  Green energy.  It appears the legislature’s Republicans are moving right down the list — during this short session — to pay back each and every one of their major campaign contributors.  What will it take to refocus things on Jones Street from whoring-for-cash to actually serving the people who sent them to Raleigh?

Handing the majority over to the other party likely won’t make much difference. Calling out the weasels and shaming them sometimes works.  But there are so many of them and so few of us.

We need a massive infusion of good character into that legislative building.  The system, itself, needs to be reformed away from all-too-typical, all-too-frequent whoring and back-scratching.

Can it actually be done?