Energy Efficiency Sets the PACE for Commercial Improvement Projects
Commercial property owners are always looking for ways to finance upgrades or improvement projects. Property Assessed Clean Energy (PACE) is a new, innovative way to pay for energy efficiency upgrades, on-site renewable energy projects and water conservation measures on your property. Incorporating energy efficient measures into your improvement project is a great way to take advantage of government financing.
How can I benefit?
PACE funding is provided or arranged by a local government and covers 100% of the cost of an energy project, with no money down. With finance terms of up to 20 years, it’s possible for annual energy savings to more than make up for yearly payments. PACE is attached to the building, not the individual or business, so if the building is sold PACE assessments are seamlessly transferred to the new owner.
Who is eligible for PACE financing?
PACE commercial programs are available in 16 states, including Missouri. Commercial and industrial properties of all sizes are eligible, including:
- Office buildings
- Shopping centers
What kind of projects are eligible?
Projects that include energy efficiency and energy generation improvements qualify for PACE, including permanently affixed:
- Lighting fixtures & controls
- HVAC upgrades
- Solar panels
- Elevator modernization
- Envelope upgrades
Making your project energy-efficient is a great way to save money on financing and operating costs while making necessary building improvements. If you have any questions on utilizing PACE for your next project, contact an Anders advisor.