It will be used for solar energy installation.
Frederick, Md. (KM) A Frederick County summer camp is taking advantage of a program to help it go green. During her public information briefing on Monday, County Executive Jan Gardner announced that Bar-T Mountainside in Urbana has received preliminary approval under the PACE program to borrow money to make energy efficient improvements on its property. “Bar-T will become 100% solar powered, net zero emissions, with a battery backup,” says Gardner. “And they plan to install a very sophisticated energy management system to maximize savings and comfort.”
PACE, or Property Assessed Clean Energy, is a program established by the state which provides 100% of up front capital funding for businesses who want to install energy efficient equipment on their properties. :”Technology used to improve energy efficiencies can cost a lot of money, and can require a large investment up front which can make it tough, especially for some of our smaller and medium size businesses to implement renewable energy, water conservation projects or to upgrade their HVAC systems,” says Gardner.
But this program will leverage money from private lenders to help these businesses borrow so they become more energy efficient. “One of the key focuses for the {Maryland} Clean Energy Center is providing access to capital, to facilitate the adoption of the clean energy and energy efficiency products , services and technologies,” says Kathy Magruder, the Executive Director of the Maryland Clean Energy Center,which is implementing the program. “We don’t have any money So the way that we need to do that is to bring private capital into the marketplace to serve that end.”
Part of the PACE program gives borrowers a longer period of time to pay off their loans, and allows the cost of improvements tied to the commercial building over an extended term “for more advantageous financing.”
County Executive Gardner pointed out that the county is not loaning any taxpayer money. However, it will allow the business to pay back its loan through a surcharge on its property tax bill. :”We don’t assume the risk for the loans in the PACE program,” she said.; “We’re simply facilitating the loan repayment through the surcharge on the tax bill.”
The County Council approved an ordinance last year setting up the program.
“This is a ready-to-go program now in your county. You should be able to pull the trigger and start saving money in the energy space.; Commercial, industrial, agriculture and not-for-profit property owners can all benefit from this,”: says Magruder.
For more information on the PACE program, go on line to www.FrederickCountyMD.gov/PACE, or call 301-600-1413; or send an e-mail to Shannon Moore at [email protected].
By Kevin McManus