Setting PACE in Wisconsin
By John Hochkammer, Outreach Manger
Wisconsin Counties Association
PACE Wisconsin recently hit a milestone and added the thirtieth Wisconsin county to offer Property Assessed Clean Energy (PACE) financing in the state. Using PACE as an economic development tool, participating counties are empowering commercial property owners in their communities to save energy and money on energy efficiency updates, communities to create new jobs, and local economies to flourish—all without any taxpayer assistance.
The use of PACE financing as the economic development tool pays for itself. Jason Stringer, Administrator, PACE Wisconsin explained, “PACE gives property owners access to low-cost, long-term financing that stimulates economies through building revitalization.” To date, PACE Wisconsin has facilitated five projects and has several more in the application process. PACE financing as a development tool is setting PACE to have a positive impact for businesses and the revitalization of communities.
Building owners are using financing available through PACE Wisconsin as a means of financing energy efficiency upgrades and renewable energy installations for commercial and industrial properties. PACE financing can fund up to 100% of the cost of building improvements like HVAC, lighting insulation, roofs, renewable energy, water efficiency products, along with several other measures. Eligible property types for PACE financing include: office, retail, manufacturing, agriculture, hospitals, hospitality, non-profit and multi-family (with five or more units) buildings. PACE financing can be used on new or existing facilities.
Jon Hochkammer, Outreach Manager, Wisconsin Counties Association states, “The use of PACE financing is both an economic development and sustainability tool which allows commercial property owners to fund energy efficiencies without using equity required to fund their current operations. In addition, PACE financing can be used without jeopardizing other grants, tax credits, or any other program. The Wisconsin Counties Association is excited to see growing interest in PACE Wisconsin.”
The program currently has fourteen PACE Wisconsin lenders, who have collectively allocated more than $100 million of capital available to fund eligible projects and there are 40 registered contractors available to help them complete projects. “We are excited to use PACE financing to help save energy and money, create new jobs, and empower local economies to flourish,” said Stringer. The stage is set for communities across the state to reap the benefits PACE Wisconsin has to offer.
Learn more about PACE Wisconsin, eligible projects and project development at www.pacewi.org.