Energize Kentucky

Energize Kentucky is a regional program administrator that works with commercial property owners to secure ‘Property Assessed Clean Energy’ (PACE) capital financing for qualified energy or water conservation projects. It coordinates efforts with local governments and connects commercial property owners with private PACE capital providers and contractors to ensure the successful funding and installation of energy and water conservation projects. In 2015 the Kentucky General Assembly passed legislation which permitted local governments to establish Energy Property Assessment Districts (EPADs) for the purpose of financing energy efficient and water conservation improvements on commercial, industrial and multifamily properties. Once a local government creates an EPAD, commercial property owners are able to voluntarily sign up for financing and install energy projects. The PACE lender provides funds to the property owner to pay for the project and the property owner repays the PACE loan through an assessment placed on their property tax bill for up to 30 years. With PACE financing, there is no down payment, no personal guarantee, and the assessment remains with the property even if it is sold before the term is up. PACE financing can be used to cover 100% of the costs of energy upgrades, including: solar panels, LED lighting, energy-efficient air conditioning and heating systems, and water conservation projects, making it an attractive financing tool for commercial property owners looking to build or update existing properties.