ENERGIZE NY LAUNCHES IN BROOME COUNTY
STATE & LOCAL OFFICIALS CELEBRATE WITH ENVIRONMENTAL COMMUNITY, AREA BUSINESSES & NONPROFITS
Program Encourages Clean Energy Improvements for Local Commercial Properties
March 21, 2017. Binghamton, NY - Broome County Executive Jason Garnar, Greater Binghamton Chamber of Commerce President and CEO Jennifer Conway and The Binghamton Regional Sustainability Coalition’s Southern Tier Solar Works Program Manager Adam Flint celebrated the launch of the County’s new Energize NY PACE program on Tuesday night, March 21, at the Carousel Room at the Holiday Inn in downtown Binghamton.
Broome County Executive, Jason Garnar said, “We believe that offering PACE to our business and nonprofit communities will be a significant step towards preserving our natural environment, creating jobs in an expanding market, and making the building stock in Broome County more attractive and competitive. Broome County sees Energize NY PACE as the best opportunity for encouraging investment by existing properties in renewable energy as well as energy efficiency.”
Energize NY Property Assessed Clean Energy (PACE) financing allows commercial and nonprofit entities which own residential or commercial buildings to access long-term, low interest capital for renewable energy, and/or energy efficiency improvements. This financing is then repaid on the yearly tax bill. To be eligible for this financing option, the post-improvement energy bills and the financing repayment must be less than the pre-improvement energy bills; guaranteeing savings.
“Lowering energy costs is an easy way for local businesses to grow,” said Assemblywoman Donna Lupardo. “Money saved by utilizing PACE will allow businesses to hire another employee or buy a piece of equipment that they’ve been putting off. Energy efficiency will also make our community a more attractive place for new companies to locate. I appreciate the County’s commitment to this program and look forward to seeing the positive results that stem from it.”
As well, Binghamton Mayor Rich David said, “By giving businesses and non-profit building owners access to better financing, the new Energize NY PACE program will improve the business environment in our city and across the county, while helping non-profits direct more of their resources to their mission and less to their energy bills. The program is in keeping with my administration’s commitment to clean energy development, such as our micro-grid, hydro-electric, LED street lighting, and EV charging initiatives.
The Tuesday night event focused on how eligible property owners can take advantage of this financing tool, including step-by-step guidance and examples of other successful PACE projects in New York State. This financing tool has saved users, on average, tens of thousands of dollars annually per project.
Jennifer Conway, President and CEO of The Greater Binghamton Chamber of Commerce said, "New York State can be a very difficult place to do business. Energy bills alone can cost businesses thousands of dollars. Broome County needs to look into creative ways to generate jobs and drive positive economic growth in the region, while also decreasing costs. The Energize NY PACE commercial financing program is an innovative program that could be used by businesses and nonprofits to make energy efficiencies, save money, and potentially create new jobs."
Energize NY services are immediately available to help commercial building owners and not-for-profits in Broome County to make clean-energy improvements. Clean energy projects make financial sense for most buildings, including multi-family, commercial and industrial, retail/mixed used, private schools and colleges, agricultural facilities, houses of worship and other institutional properties. Clean energy improvements include a range of energy efficiency measures, including efficient lighting, insulation and air sealing, efficient heating and cooling systems, smart controls, energy storage and combined heat and storage, as well as renewable energy installations such as solar electric, biomass and geothermal.
Adam Flint, Southern Tier Solar Works Program Manager at the Binghamton Regional Sustainability Coalition said, “its been our pleasure to work with Broome County to make Energize NY commercial pace financing available here. Now we are ready to go to work promoting and supporting the program with building owners and contractors, and to help leaders in neighboring counties to do the same. Our 2017 solarize program, which launches May 6, will provide an opportunity for solar for everyone, including commercial solar of any size, which is now more accessible thanks to Broome County leadership.”
Unlike other loan products, Energize NY financing is repaid through an annual charge on the property’s tax bill, which automatically transfers to a new owner if the property is sold. Energize NY financing is based on the property’s ability to save energy, not on traditional credit measures. All Energize NY financings generate savings to the building owner on day one, with the annual energy savings exceeding the annual cost of the financing.
David Currie, Co-owner and Vice president of The Insulation Man is excited for the program and said, “C-PACE is for real! And Cash is King. This is a way for nonprofits and commercial property owners to lower energy bills, increase cash flow, and keep that money recirculating locally. This results in local job creation. It works on so many levels."
The Broome County Legislature passed a local law in November of 2016, entering an agreement with Energize NY to participate in the finance program. Broome County, which includes the City of Binghamton joins 30 other municipalities in New York State who have signed on with Energize NY to support their economic development and environmental goals.
Jason Shaw, Broome County Legislator, district 8 said, “Clean energy is no longer science fiction – it’s real, it’s now, and it’s helping people save money while reducing their impact on the environment. PACE will help Broome building owners find ways to save energy, save money, improve the value of their buildings, reduce the building’s impact on the environment, and create jobs - all in a cashflow-positive, business-friendly way. Win-win propositions like PACE are the kind of bi-partisan legislation that I look for and champion. I’d like to thank County Executive Garnar for working closely with me over the last two and half years to make it a reality in Broome County. I'd also like to thank the previous, Preston, Administration for crafting the legislation, and the Broome County Legislature for passing it unanimously in 2016. This launch is just the beginning for PACE!”
For more information about Energize NY in Broome County, visit www.gobroomecounty.com/pace
Energize NY, www.EnergizeNY.org, is a mission-driven, local development corporation that works with its member municipalities and building owners across NY State to unlock energy savings in their buildings, saving money, fuel and greenhouse gas emissions. Energize NY drives demand for clean energy upgrades to existing buildings through community-based marketing and outreach, building owner support and by providing affordable and accessible project financing.
Southern Tier Solar Works is the clean energy outreach and marketing program Binghamton Regional Sustainability Coalition. We work across the region to spur the affordable and efficient deployment of solar, energy efficiency and other clean energy solutions by helping to inform you about technologies, policies, and incentives. We support education and training of the energy professionals needed to grow the regional clean energy economy and reap its rewards in our communities. Join us at 10am on May 6 at the Binghamton University Downtown Center for our Solarize 2017 Launch and Art Workshop in collaboration with the Land Art Generator Initiative. More information and registration at Southerntiersolarworks.org.
Platinum sponsorship for the launch was provided by The Insulation Man, for 27 years, the industry leader and innovator in the field of home energy improvements, located at 428 Court Street, Binghamton. More information at Insulationman.com, 607-775-3035.