Shiawassee County Board of Commissioners will hold a hearing about establishing a PACE district to promote renewable energy. | Pixabay
Shiawassee County Board of Commissioners will hold a hearing about establishing a PACE district to promote renewable energy. | Pixabay
Shiawassee County Board of Commissioners will hold a public hearing at 5 p.m. July 16 to receive comments about the proposed Property Assessed Clean Energy (PACE) program and PACE report, according to a Facebook post by the Shiawassee County Administration.
The PACE program is a financing tool that allows businesses to finance energy efficiency, water efficiency and renewable energy projects in a manner that allows a positive cash flow outcome. Instead of a traditional bank loan, PACE financing allows a property owner to enter into a special assessment agreement that can be repaid over a period of 25 years. Property owners doing PACE projects generally pay nothing down and generate more money in savings than they finance, according to Lean & Green Michigan.
The Shiawassee County Board of Commissioners intends to establish a PACE program and a PACE district to reduce energy costs and promote the use of renewable energy systems.
The PACE report is available on the county's website.
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