PACE Clean Energy Financing Tool- Now Available in Ohio and Kentucky
Property Assessed Clean Energy (PACE) is an innovative economic development tool designed to allow commercial and industrial building owners to finance energy efficiency and renewable energy improvements through a voluntary special assessment attached to the property. The Greater Cincinnati Energy Alliance www.greatercea.org in collaboration with the Port Authority of Greater Cincinnati brought this program to SW Ohio in 2013. Kentucky lawmakers voted to adopt legislation last year.
PACE financing is a potential WIN-WIN for building owners and tenants! Improvements can be implemented via long term fixed rates with little or no up- front capital required which preserves owner capital for other investments. Returns on investment provide an immediate return on investment through savings. Valuation and of the real estate is increased without impacting balance sheet. Annual costs can be passed along to tenants under some lease types. Tenants benefit through lower building utility and operating costs and improved work environment.
PACE funds can be applied to any number of building improvements, such as
- HVAC and control systems
- Lighting retrofit
- Building envelope – insulation, roofing, doors/windows
- Elevator upgrades
Kiesland is an approved GC-PACE partner providing Design/build and general contracting services. Kiesland is uniquely qualified to assess building needs, identify real opportunities and implement improvements through our BuildSmarterPlus group, for more information, see http://www.kiesland.com/buildsmarter/ Or call Andy Mauk a call at 513 554-1200 ext 3022 (firstname.lastname@example.org)