CounterpointeSRE Is Helping Preserve Resources And Make Energy Efficiency And Resiliency Improvements Affordable And Achievable For Businesses In Marion County
Starting in early 2015 some of the very first PACE projects in all of Florida were financed in Marion County through CounterpointeSRE and the Florida PACE Funding Agency. And Marion County continues to lead the way today.
Two recent Marion County projects to take advantage of C-PACE are the Ocala Hilton and the Paddock Mall.
The Ocala Hilton in Ocala, Florida financed more efficient chillers for their hotel that are projected to save 181 megawatts of electricity per year and 10,251,513 gallons of water. This installation conserves energy and water resources with an estimated reduction in greenhouse gas emissions of approximately 108 tCO2e per year. The fixed rate installment of less than $50,000/year is repaid through the annual tax bill. The hotel is projected to save an estimated $67,000/year in utility costs, creating a positive cash flow from the first day of installation. Using C-PACE actually helps the improvements pay for themselves.
The Paddock Mall was able to use C-PACE to replace ageing HVAC equipment and energy inefficient lighting, upgrading their facility and producing energy savings of over 25%.
With 100% financing of projects, commercial property owners can upgrade their properties with no capital outlay and can reduce operating costs by lowering utility bills and insurance premiums. The financing is in the form of a non-ad valorem assessment, added to the property tax bill as a separate line item, and is repaid with the other property taxes. CounterpointeSRE offers low, fixed interest rates with terms up to the estimated useful life of the improvement (capped at 30 years). Popular projects qualifying for financing include upgrades to building envelope, wind-resistant and/or energy efficient windows and doors, LED lighting, building controls, HVAC, solar panels and roofing. Hurricane preparedness and green roofs are also eligible for financing and provide additional opportunities for property owners to improve their properties.
PACE financing benefits all stakeholders by increasing property values, making buildings safer and reducing demands on the power grids. PACE also stimulates local economies and provides financing for construction projects with the American Council for an Energy-Efficient Economy (ACEEE) estimating that 17 jobs created for every $1 million financed.
CounterpointeSRE has a deep expertise in commercial real estate finance markets and provides financing for both retrofits and new construction. For more information, please visit www.CounterpointeSRE.com.
The CounterpointeSRE Program is sponsored in Florida by the Florida PACE Funding Agency, a governmental agency organized to establish a statewide PACE platform offering both residential and commercial PACE financing. For more information, please visit www.FloridaPACE.gov. Counterpointe Energy Solutions (FL) LLC is the third-party program administrator for the Florida PACE Funding Agency and has been offering PACE program administration services nationwide since 2014.