It’s time for Grand Traverse County to use a state law to help local firms cut energy costs and boost bottom lines. The 2010 law, called PACE-Property Assessed Clean Energy-allows local governments to establish bonds for loans to improve commercial buildings’ efficiency or install renewable energy devices, cutting their utility bills. Local units then use special property tax assessments for loan repayments.
Andy Levin urges local leaders to adopt an ordinance he designed based on a 2010 state law, known as PACE, that would put tradesmen to work on efficiency and renewables projects for local businesses to boost their profits without spending public dollars. “PACE” means Property Assessed Clean Energy. It allows local governments to raise bonds to finance energy efficiency and renewable energy projects for local firms-and use special property tax assessments for paying off the loans.