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updated: 7/22/2020 10:41 AM

McHenry Co. picks administrator for energy loan program

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OAK BROOK -- The Illinois Energy Conservation Authority NFP has been selected by McHenry County as the program administrator for the McHenry County Commercial Property Assessed Clean Energy financing program for commercial real estate owners.

Introduced in Illinois in 2019, C-PACE is a financing tool that provides low-cost, long-term funding for energy efficiency, renewable energy and water conservation projects in commercial properties. C-PACE financing is currently available in 37 states, including the District of Columbia. From 2009 to 2018, C-PACE programs have funded 2,400 qualifying projects for a total of $ 1.538 billion, while also creating over 17,900 jobs.

The passing of the C-PACE legislation by the McHenry County Board makes McHenry County the third county-wide C-PACE program in Illinois.

For more information on IECA visit www.iecaPACE.org.