Detroit Gets PACE Financing
Wayne County, Mich., which includes the City of Detroit, is going to create a Property Assessed Clean Energy (PACE) district that will assist business owners in financing energy efficiency improvements.
Wayne County says it will be the largest local government outside of California to create a PACE district. Wayne County becomes the fifth county and seventh local government to join the statewide Lean & Green Michigan PACE program run by Levin Energy Partners.
The statewide PACE program is structured to allow every municipality to join after holding a public hearing and passing a resolution of intent and adoption. Huron, Ingham, Macomb, Saginaw, and Wayne Counties and the Cities of Rochester Hills and Southfield have all joined the program.
The commercial PACE market is growing, and to date nearly $52 million worth of sustainable upgrades to commercial buildings have been funded with PACE, according to PACENow, which is supporting and contributing to the efforts of the many groups and organizations using PACE.
State law allows local governments to create PACE programs where commercial property owners can take on voluntary special assessments to finance energy efficiency improvements. The financing is secured by the local government’s property tax authority.
- Solar Request for Proposal (RFP) Guide
- The Future of Operational Risk Management: The Oil & Gas and Chemicals Approach
- Improve Your Company's Environment and Energy Performance
- Unlocking the Value of Energy & Operational Data
- NAEM Research Report: Planning for a Sustainable Future
- 2015 Environmental Leader Product & Project Awards
- Verdantix Green Quadrant for EHS Software
- Gartner Magic Quadrant
- Increase the Value of Demand Response Through Automation
- Combined Heat and Power