Energy Efficiency Boost for Minnesota's Commercial and Industrial Buildings

LARGE commercial and industrial buildings in Minnesota will benefit from a state-wide $10 million energy efficiency program funded by revenue bonds through leading energy savers, the St. Paul Port Authority.

St. Paul City Council approved the Port Authority to issue the bonds to finance energy efficiency projects via loans to cities throughout the state for the PACE program (Property Assessed Clean Energy).

The program funds improvements to a building’s energy efficiency, with the loan repaid to public funds through an assessment on the property tax bill.

Neither the city of St. Paul nor the Port Authority will be liable for the bonds, which must be repaid within 20 years.

Picture of St. Paul Minnesota by John Polo and reproduced under CCL.

Friday 23rd August 2013

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