MICHIGAN—The New Amadore Apartments, located in Saginaw County, Michigan, will be the county’s first property to take advantage of an innovative energy efficiency and renewable energy financing program approved by county leadership. The financing will be used to replace 281 original single pane windows installed when the building was constructed in 1929.
According to The Energy Alliance Group of Michigan’s CEO, Scott Ringlein, the project would not have been possible without the availability of Property Assessed Clean Energy (PACE) financing. PACE takes advantage of the same mechanism used for financing paving projects, sewers, sidewalks and other community enhancements. The financing uses the energy and maintenance savings achieved from efficiency upgrades, to fund the project. PACE was viewed as the optimal choice which allowed the project to move forward without creating a strain on the business’ cash flow.
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