Minnesota law opens clean energy financing program to new construction
Tuesday, July 02, 2019
The state’s commercial property assessed clean energy program was originally designed for building retrofits only.
The administrator of a Minnesota clean energy financing program expects hundreds of millions of dollars in new projects to qualify thanks to changes signed into law as part of a state budget deal.
Minnesota’s Property Assessed Clean Energy (PACE) Financing program was originally designed to help finance retrofits for existing commercial buildings. The recently passed measure expands the program to include new buildings as well. It also allows larger loans based on appraised rather than assessed values.