Kentucky is the latest state in the US to approve Property-Assessed Clean Energy (PACE) financing. With PACE financing, businesses will be able to conduct energy retrofits and upgrades and pay for them via their property tax bills.
Kentucky has authorized commercial property owners to apply for PACE financing, which can be used for energy efficiency, renewable energy and water efficiency improvements to their buildings, according to an Environmental Defense Fund blog posting.
PACE was promoted in the Kentucky legislature by the Greater Cincinnati Energy Alliance and the Kentucky Energy Project Assessment Districts (EPAD) Council. The Greater Cincinnati Energy Alliance is working with groups in Kentucky to establish a pipeline of initial PACE-financed projects.