NOPEC to Host Energy-Efficiency Financing Workshop
By Rachel Duthie on August 28, 2018
It’s every contractor’s biggest headache: After quoting a business on a property improvement, the owners come back only to say that they cannot afford it. The process is tiring and can waste valuable time and resources.
However, making energy efficient upgrades -- like new windows, solar panels, and air conditioners -- can save money on energy bills, increase a property owner’s home value, and make property improvements affordable for the business owner.
The Northeast Ohio Public Energy Council (NOPEC), in conjunction with Bricker & Eckler Attorneys at Law, will be hosting a one-day Property Assessed Clean Energy (PACE) loan workshop. There, contractors will learn about the PACE loan that can help commercial property owners finance energy projects up to $500,000.
PACE is a mechanism that allows property owners to finance energy efficiency and renewable energy improvements through assessments on their real property tax bills. NOPEC’s program is designed to meet the needs of owners by providing up-front capital to complete these improvements, in a structure that provides stable, predictable payments over the term of the loan.
At the workshop, participants will discover how low-interest financing can fund up to 100% of energy-efficiency projects for commercial properties. Plus, they will find out how businesses can pay the property improvements through savings generated by these energy efficiency upgrades.
Most commercial properties are eligible if they are located within a NOPEC member community. This includes for-profit and non-profit, multi-family (more than four units), retail, commercial, industrial, and government properties. Some efficiency improvement examples are lighting, HVAC, windows, doors, roofing and insulation. Renewable examples include geothermal, wind, solar-photovoltaic (roof-top or ground-mounted), solar-thermal water heating systems and biomass energy or gasification projects.
The workshop will take place at the Hilton Garden Inn at 8971 Wilcox Drive in Twinsburg on September 26 from 8:30 a.m. to 1:00 p.m. Lunch will be provided. To register, go to nopec.org/workshop.
Not sure if your commercial property is in one of NOPEC’s 220 member communities? Check out our community map.
