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NOPEC PACE Loan Program

Property Assessed Clean Energy Financing (PACE) offers low interest rate financing for energy efficiency improvement projects from $100,000 to $500,000.

Benefits of a PACE Loan

  • Greater long-term property value because of the energy efficiency improvements.
  • Fixed interest rates.
  • Assessment stays with the property upon sale.
  • Long-term financing
  • Preservation of borrowing capacity through off balance sheet financing.
  • Can allow for investment with zero up-front cash.
  • Assessments are used to secure local government financing to fund improvements without requiring the borrower or the sponsoring local government to pledge its credit.
  • Ability to pass payments through to tenants.
  • Interest rates as low as 2.5%

Time for Property Improvements?

Join us for the Property Assessed Clean Energy (PACE) Webinar and learn how our low interest, fixed-rate financing can help your small business.


Mantaline Corporation in Portage County used the PACE loan to secure financing of $119,000 at a 3% interest rate for 10 years to replace old fluorescent fixtures with LEDs and occupancy sensors. This will save them $19,000 per year, equating to about a 6 year payback on their investment.

You are eligible if...

You are interested in completing one of these projects, for one of these types of properties located in a NOPEC community:

  • Energy Efficiency Improvements(HVAC, windows, doors, roof, lighting)
  • Geothermal Energy projects
  • Wind Energy projects
  • Solar-photovoltaic (roof-top and ground-mounted solar arrays)
  • Solar-thermal Water Heating Systems
  • Biomass Energy or Gasification projects






Multi-family housing

Multi-family housing

PACE Inquiry Form

Have Questions? Unsure if you Qualify?


Benefits can include:

  • Allowing for zero up-front cash needed to make the investment
  • Long-term, fixed-rate financing as low as 2.5%
  • Assessments stay with the property, even if it's sold during the loan term
  • Preserving borrowing capacity through off-balance sheet financing
  • Provides greater long-term property value and rental benefits

Any commercial property owner is eligible if the property is part of the NOPEC program. This includes for-profit and non-profit, multi-family (more than four units), retail, commercial, industrial, and government properties.

There are several ways to check if your property is eligible.

  1. You can check your utility bill. If NOPEC is your supplier, your bill will show that.
  2. You can call NOPEC. We can check if we supply your facility.

You can call your local community. Your local community representative can contact us to verify that information.

Multiple sites – with the same owner and in the same community – do not have to be contiguous.

Yes, borrowers can use qualified, licensed contractors of their choice to complete the improvements.

There are several options to choose from, including two that are professional certifications. These include individuals with an ASHRAE or CEM certification. ASHRAE stands for American Society of Heating, Refrigerating and Air-Conditioning Engineers. CEM is a Certified Energy Manager. If your contractor or engineer does not have either of these qualifications, we encourage you to talk with us about the qualifications.

After the complete application package is provided, NOPEC will begin its internal review of the information as the first step in approving the loan. Part of the approval process also involves the local community, and NOPEC will contact them to initiate that step. The community approves legislation that identifies the property as a PACE property and approves the assessment. Some communities require legislation to go through three readings before approving it, which could add a little more time. In most cases loans will typically close within 60-90 days of submitting a complete application package.

NOPEC will finance projects of $100,000-$500,000 for up to 20 years through the PACE loan program. The term will depend, in part, on the amount being financed, the useful-life of the asset(s) financed and the projected savings from the improvements. (If your project is above or below those thresholds, talk to us. We may have other options for you to consider.) The rate is fixed at closing and all eligible costs can be financed.

There are no job creation requirements. None. However, adding new jobs would be welcomed!

Fill out the inquiry form or contact Norma Fox Horowitz, Special Projects Manager, at 440-249-7829.

Apply Today!

Still not sure? Fill out our inquiry form above

Apply Today

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