Otsego County Joins “Energize NY”
Otsego County announced a clean energy finance program to help owners of commercial property and non-profits make their buildings more energy efficient, which will help local business owners reduce energy costs and achieve more environmentally friendly buildings.
Energize NY is a non-profit local development corporation that implements New York’s Property Assessed Clean Energy (PACE) finance program on behalf of municipalities across New York State. Energize NY PACE is a low-cost, long-term financing for energy improvements that is repaid on the benefited property’s tax bill. Otsego County is the 16th county, and one of 48 municipalities statewide, to join Energize NY and offer PACE financing.
“This is a great opportunity for Otsego County commercial property owners and non-profits to invest in their properties, improve energy efficiency, and reduce their carbon footprint” said Otsego County Board of Representatives Chairman David Bliss.
Commercial property owners can apply directly to Energize NY to finance 100% of the cost of their energy upgrades, freeing up their existing capital and lines of credit for other business needs. Finance terms that go as long as 20 years help businesses afford substantial improvements and generate energy savings that often exceed the cost of the annual PACE payment. For existing buildings, including gut renovations and additions, Energize NY PACE can be used for a broad range of efficiency measures such as boiler conversions, insulation, lighting, windows, and smart controls. Renewable energy systems, including solar, ground and air source heat pumps, anaerobic digestors and battery storage, are eligible for PACE financing in both existing buildings and new construction. Financing these improvements with Energize NY PACE helps building owners take control of energy and maintenance costs, improve comfort, and increase their net operating income.
For more information on Energize NY PACE financing, visit www.EnergizeNY.org.