ADVERTISEMENT

ADVERTISEMENT

PACE offers help for energy efficiency projects

Available to commercial and agri-businesses, the Rural Minnesota Energy Board’s PACE program provides project financing that is repaid as a special assessment on property taxes.

Globe News Brief jpg

SLAYTON — Interest in energy efficiency for buildings and adding renewable energy, like solar, has been growing in recent years in southwest Minnesota. Now, financing for these energy efficiency projects has become more affordable through Property Assessed Clean Energy.

Available to commercial and agri-businesses, the Rural Minnesota Energy Board’s PACE program provides project financing that is repaid as a special assessment on property taxes. PACE eliminates the burden of upfront costs by providing low-cost, long-term financing with interest rates as low as 3%. PACE is designed so that the increase in property taxes is offset by the decrease in energy costs so that the business sees either no change or a cost savings.

The former Blue Line Travel Center in Worthington saw a 62.5% reduction in energy costs, or $44,596 in annual savings, from updating its outdoor lighting to energy-efficient LEDs.

Culligan Water in Worthington also used PACE to fund a roof insulation project and improve lighting. The numerous energy efficiency projects have had a noticeable and positive impact on the Culligan building’s energy use and operating costs year round, with an annual savings of $1,655.

To date, the RMEB PACE program has helped 31 businesses finance clean energy projects across southern Minnesota. Potential building improvements that can be financed with PACE include, but are not limited to, LED lighting, improved heating/cooling, enhanced insulation, new windows, new refrigeration, and solar.

ADVERTISEMENT

For more information about PACE, visit swrdc.org or rmeb.org/pace or contact Program Administrator Robin Weis at (507) 836-1638 or robin@swrdc.org .

Related Topics: ENERGY AND MINING
What To Read Next
The program provides funding to help processors add value to Minnesota agricultural products by investing in production capacity, market diversification and market access for value-added products.
The application deadline is March 6.
“We’ve been really fortunate as far as equipment goes. Things break when it gets cold. The guys have been really good about being careful.”
From semi-strangers to old friends, it's touching to have people wish you the best.