1-30-2014 Lean and Green Michigan Named as One of Top Five PACE Programs to Watch
Lean and Green Michigan Named as One of Top Five PACE Programs to Watch
After a record year in which over $60 million in Commercial Property Assessed Clean Energy (PACE) projects were completed (and more than $215 million in projects in the pipeline), Greentech Media has named Lean & Green Michigan as one of its top five PACE programs to watch. Noting that Lean & Green Michigan, which is run by Levin Energy Partners, recently signed an agreement with Wayne County to create the second largest PACE district in the country, the report also noted that Lean & Green Michigan has also signed up four other Michigan counties and six local governments for its program.
PACE allows investments in energy-efficiency retrofits and distributed renewable generation to be paid back through a tax that is tied to the property, which lowers the risk for both lenders and owners and can potentially open up a far larger swath of the energy efficiency market. California and Connecticut are already two of the most important states for commercial PACE because of the number and scope of their programs. California has taken a city-by-city approach, while Connecticut has employed a state-level approach. But there are other regions to watch in 2014 as legislators and regulators design unique programs and learn from pioneering states. Texas. Texas hasn’t financed a dime in PACE projects yet, but the state has big plans to gear up in 2014. The state legislature passed its PACE Act in June of last year. A nonprofit business association, Keeping PACE in Texas, is busy assembling “PACE in a Box” for the entire state. It has adopted some of the streamlined procedures in place in Connecticut, but the Texas version won’t be as top-down and will allow cities and counties to customize their programs. Charlene Heydinger, executive director of the group Keeping PACE in Texas, expects the first programs to be implemented this year.
Michigan. Sure, California has the largest PACE district, but just behind it is Wayne County, the largest county in Michigan. In early December, the Wayne County Commission created a PACE district as part of the Lean & Green Michigan initiative. Four other counties and six local governments have also joined Michigan’s program. Wayne County is home to nearly 1.8 million residents and encompasses the city of Detroit. A specific timeline for the program has not yet been announced. Ann Arbor is the only city in Michigan that has already launched its PACE program.