Maryland Clean Energy Center
Queen Anne’s and Howard Counties have joined Anne Arundel and Montgomery counties among those enabling Property Assessed Clean Energy (PACE) lending for energy improvements on commercial properties in Maryland Jurisdictions. Other counties looking into adopting PACE enabling regulation include: Charles, Frederick, Baltimore, Allegheny, Garrett, and Cecil Counties. PACE financing which provides program administration at no cost to counties due to the complete private funding. PACE ordinances were created with the intent to advance adoption of renewable energy and energy efficiency solutions while promoting economic development and improving the environment.
MD-Pace works with property owners to lower operating costs and increase the value and market competitiveness of their assets while complying with local energy and building code mandates. PACE allows contractors access to the necessary capital to fund clean energy projects. MD-PACE has implemented a series of contractor trainings throughout the state to assist contractors in utilizing PACE financing to grow their companies.
Participating banks and lenders can invest with confidence to fund clean energy projects. The surcharge lien secures the debt associated with a PACE financed project. A PACE project has priority over other liens on the property. PACE financing is offered in several states and has been named one of the Top Twenty World Changing Ideas by Scientific American Magazine.
From Energy.gov “The property-assessed clean energy (PACE) model is an innovative mechanism for financing energy efficiency and renewable energy improvements on private property. PACE programs allow local governments, state governments, or other inter-jurisdictional authorities, when authorized by state law, to fund the up-front cost of energy improvements on commercial andresidential properties, which are paid back over time by the property owners.”
For more information on participating in MD-PACE financing, or to read more about MD-PACE click HERE.