Kane County Offers Funding For Clean-Energy Commercial Projects

Kane County Offers Funding For Clean-Energy Commercial Projects

Kane County is one of the first counties in Illinois to offer funding incentives for clean-energy commercial projects.

The Kane Energy Efficiency Program (KEEP) program will be administered by the Illinois Energy Conservation Authority NFP, officials announced in a Wednesday (June 26, 2019) news release.

KEEP is an innovative financing tool that provides low-cost, long-term funding for energy efficiency, renewable energy and water conservation projects in commercial properties.

KEEP is the local version the Commercial Property Assessed Clean Energy (C-PACE) financing that is presently available in 36 states and Washington, D.C. The program is recently introduced to Illinois, and Kane County and neighboring DuPage County are among the first to offer it here.

From 2009 to 2018, C-PACE programs have funded 1,934 qualifying projects for a total of $883 million, while creating more than 12,000 jobs.

Kane County Board Chairman Chris Lauzen said the KEEP C-Pace program can provide up to 100 percent financing for energy-efficiency projects at a fixed rate that can be easily repaid through the property tax bill.

“Kane County is happy to be at the forefront of providing commercial real estate owners with the opportunity to make energy efficiency improvements to their properties,” he said.

IECA President Mark Pikus said his organization looks forward to working with Kane County.

“This is a great program for Kane County’s commercial real estate owners, and we intend to work with the local constituents to further educate businesses on the KEEP program benefits,” he said.

For more information on IECA visit www.iecaPACE.org.

About The Illinois Energy Conservation Authority

The Illinois Energy Conservation Authority NFP is a not-for-profit organization that was formed out of a commitment to bring the innovative C-PACE program administration to the Chicago area.

The IECA has compiled a team consisting of Slipstream, Abacus Property Solutions, partners, advisors and consultants with deep ties to the region, and five decades of experience in serving the commercial real estate industry as well as nearly seven years of experience in PACE around the country.

The IECA is uniquely positioned to assist the Chicago area in establishing successful commercial C-PACE programs that will support greater economic development activity, as well as contribute to developing high performing buildings through installation of energy efficiency and clean energy technologies.

SOURCE: IECA news release