DevelopOhio

In just the second quarter of 2015, PACE programs funded 33 commercial projects totaling $22.8 million across the country, and five states “passed or amended PACE enabling laws,” according to PACENation’s Commercial PACE Market Update for the period. The update notes that “PACE is set to become a major force in the U.S. energy landscape as well as a driver of local economic development and job creation for municipalities.” PACE’s long-term payback period allows for cash-flow positive projects, which “meets the needs of many building owners, developers and financers that are not satisfied by other financing options.” Additionally, PACE “has proven to be one of the most effective ways” to finance renewable energy and energy efficiency improvements needed to meet “state and national greenhouse gas reduction targets and renewable portfolio standards,” according to the update. The funding PACE provides for these projects stimulates job creation for energy services contractors. The update ranks Ohio third in total PACE funding dollars since 2009, with $21,000,000. To read the complete update, click here and then download the report.