Keeping pace with EPAD (USGBC Kentucky)
With the passage in late April of an ordinance in metro Louisville, Kentucky now has seven Energy Project Assessment Districts (EPAD), called PACE, or “Property Assessed Clean Energy” elsewhere in the United States.
Thanks to the efforts of many, including the Kentucky EPAD Council, Harshaw Trane and Frost Brown Todd, Kentucky now counts itself among the 35 states that have enabled legislation for EPAD projects. In fact, our first EPAD transaction has already been completed in Covington, and Bowling Green, Belleview, Owensboro, Greensburg, Greenville and Louisville have adopted the local ordinance necessary to proceed with job-creating projects of their own.
EPAD, a mechanism that holds promise for clean energy advocates from around the country, isn’t some complex financial instrument dreamed up by a high-finance shark from The Big Short. Rather, it lets building owners pay for money-saving, value-enhancing energy upgrades to their buildings through the same mechanism that they’ve paid for a road, water line or other public benefit: on their property tax bill.
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