In a significant move towards addressing the state's housing crisis, New Hampshire is exploring an innovative financing mechanism known as C-PACE. Last year, a conversation between Duprey and a lender sparked interest in this program, which could potentially revolutionize residential development. After learning more about how C-PACE operates, Duprey realized its potential to facilitate the construction of much-needed multifamily homes. By financing energy-efficient components such as heat pumps and solar panels, developers can reduce their overall mortgage burden, allowing them to allocate more resources toward building additional units.

Recognizing the importance of this initiative, Duprey, who serves as the vice chair of the New Hampshire Business Finance Authority, initiated an investigation into why the existing C-PACE legislation had not been effective. The original law imposed excessive restrictions and placed undue administrative responsibilities on municipalities, making it unattractive to both local governments and financial institutions. To address these concerns, Duprey collaborated with key stakeholders in the legislature and business community to overhaul the program. The revised bill has received widespread support because it delegates administrative duties to the state finance authority and requires lender consent for loans, alleviating banks' reservations. Over the past 15 years, banks have gained considerable experience with these loans, making them more comfortable with the model.

The passage of the new C-PACE legislation in New Hampshire exemplifies the power of bipartisan cooperation at a time when climate action faces significant challenges. This initiative promises multiple benefits, including increased housing development and enhanced energy efficiency, all without placing any burden on taxpayers. As other states have already demonstrated, C-PACE programs can drive substantial investment and support numerous projects. In Connecticut, for instance, over $380 million in financing has funded 415 projects since 2012. The successful implementation of this program in New Hampshire sets a positive precedent for future legislative efforts, highlighting the potential for constructive collaboration to achieve meaningful outcomes.