Energy Project Assessment Districts (EPADs)
Financing Energy Projects to Create Jobs and to Save Small Business Money (With No Cost to Taxpayers)
The Energy Project Assessment District Act of 2015 (the “EPAD Act”), was signed into law by Kentucky’s Governor, Steve Beshear in April 2015. The act provides a new, innovative, proven way for commercial property owners to pay for:
Energy Efficiency Upgrades
On-site Renewable Energy Projects
Water Conservation Measures
EPAD funding is arranged for 100% of a project’s costs, and is repaid by participating property owners with a voluntary assessment on the property tax bill over a term of up to 20 years. This type of program – known elsewhere as Property Assessed Clean Energy (“PACE”) is available in 31 states.
Go to http://www.epad-ezone.com/ to learn more
Guaranteed Energy Savings Contracts
We have implemented over $200 million in energy-savings projects in the K-12, healthcare, industrial and federal markets, including over $100 million in K-12 alone. We have achieved tremendous success in obtaining the ENERGY STAR Building Label for school facilities in Kentucky through an energy savings performance contract. To date, Harshaw Trane has obtained the ENERGY STAR Building Label for 27 schools in Kentucky through Trane's energy savings program.
KRS 45A.352 allows school districts in the Commonwealth to leverage monies currently spent for excess utility usage to procure facility improvements that positively impact the learning environment through the implementation of more energy-efficient equipment and procedures. School districts can fund various capital improvements through the utilization of this legislation. We can help school districts achieve both facility and financial goals through the implementation of a performance-based, energy cost reduction program:
- Reduced operating
- Improved classroom environmental conditions
- Improved maintenance and operation of facilities
- Preserved capital funds
Below is an illustration of how Trane's performance-based, energy cost reduction program can create an additional revenue stream to fund facility improvements.