Owners of commercial and industrial property in the U.S. spend $202 billion each year on energy for their operations – yet 30% of that cost is unnecessary. That’s $60 billion wasted every year due to inefficiency.
Virtually any business owner can participate in PACE– once its county, city or township has signed on. If you own commercial, industrial or multi-family property (five units and up) and you want to reduce your energy or water costs or install renewable energy equipment, PACE can work for you. Unfortunately, under Michigan’s PACE law single-family residential properties are not eligible.
Property owners who undertake a PACE project with Lean & Green Michigan™ enjoy the following features:
- You typically pay nothing down.
- On energy efficiency projects, you must save more than you pay from start to finish. I.e., your semi-annual special assessment payments must be less than the money you save in reduced energy costs. Of course once you have paid off the special assessment, you get all the savings with no payments at all.
- The contractor guarantees the energy savings on all projects of $250,000 and up.
Property owners start by performing an energy audit on their facilities to determine the most cost effective energy interventions.
For more information regarding PACE financing visit the Lean and Green Website at Lean and Green Michigan