monroe county pace

WHAT IS PACE?

PACE is a national initiative with Michigan providing supporting legislation thru PA 270 of 2010, but programs are established locally to meet local markets. Local governments have developed a variety of PACE program models that have been successfully implemented. Regardless of model, there are several keystones that hold true for every PACE program:

• PACE is voluntary for all parties involved
• PACE can cover 100% of a project’s hard and soft costs
• Long financing terms up to 25 years
• Can be combined with utility, local and federal incentive programs
• Energy projects are permanently affixed to a property
• The PACE assessment is filed with the local municipality

WHY IS IT SO POPULAR?

Property owners love PACE because:
• They can fund projects with no out-of-pocket costs
• Terms extend to 25 years
• Meaningful energy savings and impact on bottom line
• It’s possible to undertake deep, comprehensive retrofits that have
meaningful energy savings
• Very often the annual energy savings for a PACE project exceeds the
annual assessment payment, so property owners are cash flow positive
Local governments love PACE because:
• It’s an Economic Development initiative
• It encourages new business owners to invest in the area
• It creates jobs using the local workforce
• Generates increased taxable revenue
• PACE projects have a positive impact on the environment, creating
healthier, more livable neighborhoods

PACE was named one of the top 20 "world-changing" ideas by Scientific American magazine.

"The fact that PACE enbales a building owner to undertake an energy efficiency project that is cash flow positive will resurrect many that have been shelved due to capital and ROI concerns, as well as open the door to many new ones."
Curt Monhart, VP,
The Energy Alliance Group of Michigan