Property Assessed Clean Energy: Financing for Sustainable Projects
This information highlights the Property Assessed Clean Energy (PACE) programs in Minnesota, focusing on energy financing for various industries and new construction projects. The PACE initiatives aim to enhance energy efficiency and create positive cash flows through innovative financing structures. Qualifying industries and niches for PACE investment are outlined, along with successful results and reasons to opt for PACE financing. The data presented showcases the positive impact of PACE programs on project costs, annual savings, and job creation.
Download Presentation
Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
You are allowed to download the files provided on this website for personal or commercial use, subject to the condition that they are used lawfully. All files are the property of their respective owners.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.
E N D
Presentation Transcript
House Energy and Climate Finance and Policy Division February 21, 2019 By: Peter Klein, VP Finance Saint Paul Port Authority
SPPA Energy Financing Programs Trillion BTU Property Assessed Clean Energy (PACE) Energy Savings Partnership (ESP) Statewide 100% Financing Immediate Positive Cash Flow
Minnesotas PACE Programs Property Assessed Clean Energy Saint Paul Port Authority (MinnPACE) Southwest Regional Development Commission
Qualifying Industries Property Assessed Clean Energy Commercial Industrial/manufacturing Multi-family housing (5+ units) Agriculture Nonprofit Places of Worship
Niches for PACE Property Assessed Clean Energy Senior Care Facilities Renewable Energy Projects Multi-tenant Buildings
PACE Results Property Assessed Clean Energy 188 Projects $63,463,000 of Project Costs 3rd in Nation $4,753,000 Annual Savings 184,105,000,000 BTUs Saved Annually 90 Jobs Retained/Created 665 Construction Jobs Created
New Construction Property Assessed Clean Energy Current requested financing: Total project costs PACE financing 9 housing projects 3 hotel projects 2 non-profits 1 mixed used project $333,000,000 $ 29,500,000
New Construction Property Assessed Clean Energy Why PACE? Mortgage holder has maximized its lending limit Added costs associated with becoming energy efficient There is funding gap The PACE assessment cannot be accelerated Mortgage holder must approve the PACE assessment Mortgage holder is in control Improved construction value and cash flow
MinnPACE allows us to sell more projects, install more systems, and in some cases it allows us to increase project size. Questions? www.minnpace.com -Eric Pasi IPS Solar
