EPAD: Improved Property Value, Preserved Capital & Energy Cost Savings
For nearly every building, the operational cost attributable to energy are borne from HVAC and lighting, accounting for more than 65% of the average utility cost. The cost of utilities continues to increase; and the initial cost and payback for equipment upgrades for many owners lends itself to either inactivity or deferred maintenance. Not only does this not address one of the last places owners can control cost, but exposes owners to risks associated with equipment failure and occupant discomfort. In the cases of healthcare or manufacturing facilities, this can have longer-reaching implications if vital areas are offline; it can halt production or interrupt vital patient care.
Now, in Kentucky, building owners have an attractive, viable alternative funding mechanism. The Energy Project Assessment District Act of 2015 (the “EPAD Act”), was signed into law by Kentucky’s Governor, Steve Beshear this April. The act provides a new, innovative, proven way for commercial property owners to pay for:
*Energy Efficiency Upgrades
*On-site Renewable Energy Projects
*Water Conservation Measures
EPAD funding is arranged for 100% of a project’s costs, and is repaid by participating property owners with a voluntary assessment on the property
over a term of up to 20 years. This type of program - known elsewhere as Property Assessed Clean Energy (“PACE”) is available in 31 states.
Discover how you can lower your utility bills, add value to your property using energy savings and an innovative financing mechanism. Preserve your capital and lower your operational cost.
The discussion will be led by:
Tom Abele, Vice President, Harshaw Trane
Jonathan Miller, Of Counsel, Frost Brown Todd Attorneys
Janet Lively, Harshaw Trane... More >><< Less