Michigan Building Retrofits with PACE
A privately-financed Property Assessed Clean Energy (PACE) project in Michigan will involve over $1 million of improvements to the 1-800-Law-Firm building in Southfield. Over $500,000 will be financed through PACE, a tool that allows any business to use a property tax assessment to obtain much longer term financing than is otherwise available in the capital markets.
Lean & Green Michigan is the administrator of Southfield’s PACE program, which is a public-private partnership. The project will add solar and wind generating capacity, electric vehicle charging stations, and additional efficiency measures to the building.
Lean & Green Michigan is a statewide PACE program open to all Michigan counties and cities for free. Already, six counties and two cities with a total population of 3.6 million (37 percent of all Michiganders) have joined Lean & Green Michigan’s PACE.
Business property owners can finance almost any combination of clean energy improvements to their buildings through PACE, including energy and water efficiency measures and renewable energy generation. In general, for a project to be approved it must be cash flow positive for the property owner. That means that the energy savings must be greater than the payments throughout the life of the finance term.
- Smart Companies Utilize Integrated Energy Solutions
- Six Essential Steps to Drive Effective Energy Management
- How to Use Lean Tools to Cash In On Environmental and Energy Savings
- Essential Guide to Lighting Retrofits and Upgrades
- Top 3 Reasons to Calculate Your Environmental Footprint
- Trends in Energy Management: Where Should Your Next Investment Be?
- Alarms Management: The Future is Now
- Meeting the GHG Challenge: Reporting Solutions
- Sustainability Reporting for Commercial Real Estate: GRESB
- Integrating sustainability into your ERM framework
- Cut Costs and Improve Facility Operations with Energy Data
- Energy Procurement Strategies for Winter 2014 and 2015
- Energy Efficiency Requires Engineering Efficiency
- Integrated Building Optimization: A Crucial Convergence of Demand-side and Supply-Side Energy Management Strategies
- Driving Productivity and Profit with Industrial Energy Management