Property Assessed Clean Energy (PACE)
The County of Summit has partnered with the Development Finance Authority of Summit County (DFA) and its local communities to create an Energy Special Improvement District that will span the entire County.
This district will allow property owners to take advantage of the Property Assessed Clean Energy (PACE) financing program that can provide financing for significant building upgrades resulting in better indoor air quality, improved tenant comfort and reduced energy costs for owners and their tenants. PACE allows the property owner to repay the energy efficiency improvements through a special assessment placed on the property. Improvements can include HVAC insulation enhancements, electrical upgrades and window and roof replacements that might save the owner 15-20 percent or more annually in energy consumption and costs. Proposed improvements can be financed through the DFA or alternatively Northeast Ohio Public Energy Council (NOPEC) over 15 years. NOPEC has initiated a PACE revolving loan fund program to finance projects between $100,000 and $500,000. NOPEC also has a new program for smaller deals which are located in communities that have less than 50,000 people.
- NOPEC Program (Link)