Advanced energy foundation hires administrator for climate grant program

The Arkansas Advanced Energy Foundation (AAEF) has hired Jonathon Rasburry as administrator for the Commercial Property Assessed Capital Expenditures (C-PACE) program.

C-PACE is designed to finance projects centered on “energy efficiency, alternative energy, building resiliency and water conservation,” according to a Tuesday (May 13) news release.

“I am both honored and excited to work with AAEF as the C-PACE administrator,” Rasburry said. “C-PACE financing will be a game changer for economic development. By offering low-interest loans with fixed payments, we’re going to help local property owners invest in their buildings, reduce long-term expenses, unlock new opportunities for local contractors, and contribute to a more resilient energy future for Arkansas.”

Before joining AAEF, Rasburry was landscape specialist for the city of Little Rock and education project manager for Entegrity. A Benton native, Rasburry graduated from the University of Central Arkansas with a bachelor’s degree in education. He also earned a bachelor’s degree in sustainability studies from the University of Arizona before teaching for the North Little Rock School District and Bryant Public Schools.

According to the release, Rasburry will create and implement the central Arkansas C-PACE program as part of Metroplan’s EPA Climate Pollution Reduction Grant awarded in July 2024. The program is new to Arkansas and is a financing option for commercial real estate developers to encourage energy-efficient building practices.

AAEF, the nonprofit arm of the Arkansas Advanced Energy Association, will oversee the revolving loan fund that provides financing for approved projects. As a sub-awardee with Metroplan, AAEF received $2.8 million as part of Metroplan’s Climate Pollution Reduction Grant to seed the revolving loan fund. Once the program is launched, owners of commercial, industrial, agricultural, and multifamily (more than four units) in participating counties can “take advantage of C-PACE’s low interest rates and long payback period to create positive cash flow from their building upgrades,” the release shows.

“Eligible projects will include HVAC and lighting upgrades, solar and other alternative energy installations, water conservation measures, and building resiliency improvements like roofing or stormwater systems,” Rasburry said. “C-PACE financing is going to be a game changer for businesses and communities in our state.”

The program is expected to start accepting applications in late summer 2025. Link here for the site where more information on the program, eligibility requirements, and application will soon become available.