14 May '12, 1pm

Specialized retrofit financing a boon for Johnson Controls

Specialized retrofit financing a boon for Johnson Controls

[Correction: This article previously misstated that Empire State Building retrofits were financed by property assessed clean energy financing (PACE). They were not.] When it comes to considering energy efficiency retrofits, the key factors for building owners -- and biggest past deterrents -- are the cost of the project and financing. Innovative financing options, however, have helped turn the tide and ramp up growth in the sector. Energy performance contracting and property assessed clean energy (PACE ) are the two financing models that have done the most to spur efficiency retrofits, according to Clay Nesler, vice president of global energy and sustainability at Johnson Controls Inc. (JCI) in Milwaukee, Wisc. PACE works by adding the cost of the retrofits to the building's property taxes, a model pioneered in Berkeley, Calif., where it was used to finance residential sol...

Full article: http://www.greenbiz.com/blog/2012/05/14/specialized-retro...

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