A county in Texas has approved a Property Assessed Clean Energy Program, giving commercial property owners access to long-term loans specifically for energy- and water-conserving upgrades.
According to Community Impact, Montgomery County commissioners were introduced to the PACE Program in March by Lee McCormick, founder and president of Lone Star PACE. The Texas PACE authority reported that the program launched May 27.
The Montgomery County PACE Program offers business property owners the opportunity to secure long-term, low-cost financing for building upgrades. These efficiency upgrades include HVAC systems, LEDs, insulation, and low-flow water fixtures. The loans are based on the commercial property's assessed value.
Now, with Montgomery County's approval, business owners can access this eco-friendly and affordable financing. More efficient appliances and systems can help property owners save money on utilities, allowing them to reinvest their savings in their companies.
"They have a low-risk loan for a longer period of time at a relatively low interest rate," McCormick said. "The whole goal is to align the utility bill savings with the cost of the financing."
This program benefits the business owners, the county's economy, and the planet. As places move toward cleaner economies, sustainability-focused businesses are becoming wise and lucrative investments.
Clean energy stocks are outperforming oil and gas stocks as people look toward a cleaner, cooler future. Elements reported in 2024 that between 2019 and 2023 the S&P Global Oil Index returned 15% profits, while the S&P Clean Energy Index returned 41%.
This new program will bolster local businesses while reducing reliance on oil and gas, which harm the environment. ClientEarth reported that burning oil is responsible for approximately one-third of the world's total carbon air pollution. And carbon is a dangerous planet-warming gas.
"As one of the fastest-growing counties in Texas, Montgomery County stands to benefit significantly from increased investment in sustainable, energy-efficient infrastructure. This program will support economic growth, job creation, and resource conservation throughout the region," McCormick added, per Community Impact.
Montgomery County Judge Mark Keough said, "Montgomery County is committed to smart growth strategies that strengthen our economy while preserving the natural resources that make this region so special."
|
Should the government continue to give tax incentives for energy-efficient home upgrades? Click your choice to see results and speak your mind. |
Absolutely 💯 
Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
TCD Picks » Upway Spotlight
💡Upway makes it easy to find discounts of up to 60% on premium e-bike brands
Cool Picks
