A second major public policy that is missing in Indiana is a “Property Assessed Clean Energy” (PACE) financing law. The term may sound technical, but it refers to the idea of the Indiana General Assembly allowing for cities & counties to create special financing programs that give low-interest loans to small businesses to invest in solar energy and energy-saving equipment, whereby the loan stays with the property, rather than the property owner. Since the loan stays with the property, it allows the property owner to take the plunge in going green, without worrying about the precise length of his/her payback period. PACE exists in all states in the Midwest, but Indiana and Iowa (PACE Nation, 2017). The Hoosier Environmental Council has been the state’s leading advocate for this law, securing bi-partisan support for a PACE financing bill twice. HEC is waiting for the right set of circumstances to emerge in the legislature before pursuing this effort again.
PACE Financing Law
Posted by: | Posted on: | Categories: