PACE Spurs Building Upgrades for Energy Savings

Now there's financing available to cut energy waste in buildings of all types and sizes.

PACE, which stands for Property Assessed Clean Energy, is a simple and effective mechanism for financing energy-efficiency retrofits and renewable energy upgrades that might not otherwise be affordable for commercial, residential, industrial, and agricultural buildings. PACE financing overcomes the upfront cost barrier these upgrades can pose by providing 100% of the financing for such projects.

The financing is paid back via property tax assessments that can stretch as long as 20 years. In most instances, the related energy savings more than pay for the assessment. Through the use of innovative PACE funding, new energy-efficient heating and cooling systems, insulation, solar and lighting improvements can be immediately rendered cash flow positive.

PACE funding has soared, as owners recognize the opportunity to increase their bottom line by reducing energy costs, to enhance the value of their property and do their part to offset greenhouse gas emissions. Since three quarters of the electricity generated in America is used to heat, cool, illuminate, and otherwise operate buildings, it’s not surprising that Scientific American magazine named PACE one of 20 “world changing” ideas.

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Can Green Buildings Make Us Smarter?

Green is good -- outside or inside an occupied building.

A recent study published by Environmental Health Perspectives (EHP) suggests that Green Buildings create optimized conditions for health and productivity. In a series of experiments, indoor environmental quality (IEQ) factors for both “green” and “conventional” buildings were simulated in a controlled environment that included office workers, and the researchers measured variables such as carbon dioxide variation, ventilation and exposure to volatile organic compounds in the building atmosphere.

The results? On average, cognitive scores for the two groups of workers were 61% higher for those working in a building with green features than with conventional construction.  In other words, green building can potentially deliver a smarter workforce.