New law will boost financing support to build out Mich. clean energy, energy efficiency projects
New law builds on successful Commercial Property Assessed Clean Energy (C-PACE) program
LANSING, Michigan – Michigan organizations today praised a new law Gov. Gretchen Whitmer signed that expands the ability of commercial building developers and owners to invest in energy efficiency and renewable energy projects.
The new law expands the types of projects that can be financed using commercial Property Assessed Clean Energy (PACE) – making this already effective tool more robust and available for more building upgrades and advanced energy projects.
“With rising costs, businesses and families are looking for ways to save, and this new law is an important way to help them reduce their energy bills,” said Ed Rivet, Executive Director of the Michigan Conservative Energy Forum. “Michigan is sending a clear signal that we’re committed to making energy efficiency and renewable energy more available to more people and that can lead to more savings to ratepayers.”
Since 2010, local governments in Michigan have been allowed to establish commercial PACE financing districts, with more than $233 million for energy efficiency projects financed through Michigan’s commercial PACE market. More than 50 local governments – representing nearly 75% of Michigan residents – have voluntarily participated over the past decade.
“When Michigan invests in clean energy and solar power infrastructure, it strengthens Michigan communities, businesses, and families,” said Courtney Bourgoin, Evergreen Action Midwest senior policy and advocacy manager. “This new policy will build upon Michigan’s growing clean energy economy, creating good paying jobs and energy efficiency projects in local communities across the state. We applaud Gov. Whitmer and the Legislature’s efforts to pass this legislation and look forward to even more action as the state moves toward a 100% clean energy economy.”
“Local clean energy and energy efficiency projects help families and small businesses lower costs and reduce pollution – all while creating good-paying jobs. Thanks to this legislation, more Michiganders will be able to take advantage of these clean energy projects and local communities will be provided a stable source of revenue,” said Lisa Wozniak, executive director of the Michigan League of Conservation Voters. “We applaud the Governor and members of the Legislature for helping lower energy costs and making clean energy more accessible for all. Now it’s time for the Legislature to pass 100% clean energy legislation to continue Michigan’s clean energy boom and take action on climate change.”