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PACE Wisconsin Program Launched To Finance Commercial Energy Efficiency Improvements
- Posted on December 2, 2016
Low-cost, long-term financing stimulates local economies through building revitalization
PACE Wisconsin, a statewide program which enables property owners to obtain low-cost, long-term financing for energy efficiency, renewable energy, and water conservation building improvements, is now available for implementation by Wisconsin municipalities and counties.
PACE (Property Assessed Clean Energy) is an innovative program utilized in communities across the United States to drive economic development by authorizing municipalities and counties to work with private sector lenders to provide upfront financing—usually for 100 percent of the cost of energy-saving improvements—to property owners for qualified projects. PACE helps communities:
• Stimulate job creation and investment in goods and services.
• Lower the cost of doing business by reducing the cost of capital to fund improvements, which in turn save building owners money on operating expenses.
• Revitalize aging buildings, thus improving the local building stock—and raising the value of property and the potential tax base.
• Achieve sustainability goals by fostering the completion of energy and water conservation projects.
Creating a PACE program from the ground up can be time consuming and resource-intensive, which is why—with the support of the Wisconsin Counties Association, the League of Wisconsin Municipalities, Green Tier Legacy Communities, the Wisconsin State Energy Office, von Briesen & Roper, s.c., and WECC—Wisconsin local governments established the Wisconsin PACE Commission (the “Commission”). The Commission developed PACE Wisconsin, an efficient and cost-effective solution for administering a uniform PACE program throughout the state.
A number of Wisconsin counties have already adopted PACE Wisconsin, including: Eau Claire, La Crosse, Douglas, Dunn, Chippewa, Iowa, Jefferson, Fond du Lac, Racine, Sheboygan, and Washington.
About PACE Wisconsin
PACE Wisconsin delivers the benefits of PACE financing cost-effectively throughout the state. The program offers an open-market solution for building owners and promotes economic development in participating Wisconsin communities. Any local unit of government may elect to become members of the PACE Commission, pursuant to the terms of the Joint Exercise of Powers Agreement (JPA). To offer Wisconsin PACE, counties must pass a resolution authorizing execution of the JPA, and pass the Model PACE Ordinance through the county board of supervisors. Communities interested in participation should contact the Program Administrator at [email protected].