Ohio plans to become fourth state to offer residential PACE financing

Joining California, Florida and Missouri, Ohio will soon be the fourth state to offer residential PACE (property assessed clean energy) programs. The City of Bexley in Franklin County and the City of Toledo in Lucas County have authorized agreements with the Toledo-Lucas County Port Authority to offer residential PACE (RPACE), allowing homeowners in those cities access to low-interest loans for energy efficiency improvements. Summit County will make RPACE financing available to homeowners in communities that have joined the Akron-Summit County Energy Special Improvement District (ESID), Cleveland.com reports. Homeowners who “are making energy efficiency improvements” to “HVAC, furnace, roofing, windows and doors, insulation” and other systems “can finance the up-front costs and then pay back the loans through a voluntary assessment” on their property tax bill, according to the article. Residential PACE is expected to roll out statewide by the end of 2019. For more on Summit County RPACE financing, read the full article.

Energy Efficiency, Project Finance, State Updates