City Considers Energy Efficiency Finance Options
The Independence City Council adopted a resolution Aug. 18th that provides easier financing for private businesses and commercial properties to undertake energy efficiency projects.
Doing so allows Independence property owners to access Property Assessed Clean Energy (PACE) which allows private property owners to finance energy efficiency and renewable energy improvements on their buildings through an additional assessment on their property tax bill, rather than bearing the capital costs upfront.
Energy efficiency projects that can be financed include insulation, better windows, and improved HVAC systems and renewable energy including geothermal heat pumps, wind and solar systems for private businesses and commercial properties.
Project costs can be repaid over a period up to 20 years through a special assessment on their property taxes.
The Missouri Clean Energy District also allows the city to apply for funding to improve municipal or public facilities.