Apr 26 2010
The Department of Energy has awarded certain communities of New York with federal stimulus funding of $40 million to assist owners of properties implement small-scale clean energy and energy efficiency projects, which will help them reduce their electrical energy bills.
The New York jurisdictions that received the funding by means of the federal Retrofit Ramp-Up Program are a group of 14 Westchester towns, headed by Bedford, New York; and the New York State Energy Research and Development Authority (NYSERDA) and the New York City.
The jurisdictions, in their applications for grant, proposed to utilize the Property Assessed Clean Energy (PACE) program to make payment for the projects. This program helps owners of properties cover the initial investment expenses of renewable energy projects and energy efficiency improvements. Owners can make the rest of the payments for the projects over a period of 20 years. This flexibility allows property owners to gain considerable energy bills savings.
The Town of Bedford, New York’s Energy Resources Director Mark Thielking commented that PACE financing provides the 14 Northern Westchester Energy Action Consortium towns and the Bedford town with the necessary tools to assist property owners save on energy expenses, reduce air pollution, reduce the usage of imported oil, bring in more jobs to the community and create a renewable energy community.
Vote Solar’s East Coast Campaigns’ Director Shaun Chapman stated that the PACE program facilitates increase in green jobs and combats climate change. Environmental Defense Fund’s campaign director for the region of New York Mary Barber stated that the PACE program makes it convenient for New York consumers to reduce their energy bills.