Energy-efficient technology is providing the citizens of Michigan with energy at a lower cost.
“PACE is designed so that the energy savings generate the funds to make the bank payments, which the township collects through our property taxes,” Gary Thompson, the COO of Powers Distributing Inc, told Crain’s Detroit Business.
PACE “encourages people to make sustainable improvements,” Thompson added.
Crain’s Detroit Business reported that, by installing a rooftop solar panel, investing in LED lighting, and other energy-efficient technologies, Powers Distributing has saved an average of $2,000 per month of energy bills.
Other agencies and companies in Detroit and nationally are actively trying to reduce their carbon footprint and these energy-efficient technologies can help save money, save the environment, and save lives. According to The Detroit News, the Environmental Protection Agency is attempting to put into place a new regulation on carbon.
The EPA’s rule would require states to cut emissions from power plants. Over the next 14 years, Michigan is required to cut emissions by near 40%.
For now, however, the U.S. Supreme Court has temporarily placed the EPA’s rule on hold, and a final ruling on the matter is not expected until at least 2017.
PACE is one of the only programs in Michigan that is helping homeowners with their energy-efficient finances. The only other program in the state is called Michigan Saves.
Michigan Saves works more for smaller businesses, schools, and residential homeowners. The program has helped over 400 customers with over $12 million in energy-efficient projects over the last four years.
Upgrading cooling and heating systems, solar panels, wind turbines, LED lighting, water usage cutbacks, and other basic upgrades are qualifying factors to be considered for financing from the programs.
In many cases, such updates are vital to cutting the costs of heating, cooling, and power. For example, trimming energy costs by using fans can save on the cost of air conditioning by about 12 to 15%.
Jared Swallow, director of the nonprofit arena in Bloomfield Hills, has been working on energy-efficient solutions to cut energy costs.
“Our electricity savings will pay for the project and free up cash for other projects,” Swallow stated. “It’s a really great program.”