Lawmaker Hopes to PACE Energy Improvements

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An Indianapolis state representative is working to give Hoosier business owners more flexibility to finance energy efficiency upgrades. Dan Forestal (D-100) wants to bring the national Property Assessed Clean Energy program to Indiana. He says the initiative, already approved in nearly 30 states, involves bonds being sold to investors, allowing business owners to make improvements at cheaper than usual rates. During an appearance on Inside INdiana Business Television, Forestal says he believes the PACE program is the future of energy retrofitting huge buildings. Forestal says support is building through the state and adds Simon Property Group Inc. (NYSE: SPG) has taken advantage of the program in California and is realizing huge savings in its energy costs.

He believes the issue will be brought up during the next legislative session.

A meeting on the plan this week attracted 25 groups.

Forestal says they are trying to come up with a way to fund the overall program, which is a key reason why it has not been implemented in Indiana.

Source: Inside INdiana Business