A way to manage energy efficiency

Daily Herald staff writer Tim Gagaw reported on many interesting (and humorous) proposals pending before our Illinois lawmakers, but did not include an overview of SB 2505, which would provide Illinois home and business owners with an innovative way to pay for energy efficient and renewable energy improvements to their homes and businesses.

SB2505 is based upon the Property Assessed Clean Energy (PACE) bond program already implemented in several states. PACE bonds allow property owners to finance energy improvement projects through an assessment on their property taxes that can be paid for over 20 years (pacenow.org).

Many people have taken advantage of free home and business energy audits offered by various sources, but are not in a position to pay for the suggested improvements which can cost thousands of dollars. If passed, SB2505 would enable counties and municipalities to create green energy special service areas, where PACE bonds could be issued and the proceeds lent to property owners to finance retrofits that reduce energy consumption.

Under SB2505, energy retrofits include: insulation, windows, high efficiency HVAC systems, caulking, weatherstripping and more. Participation in the PACE bond program is completely voluntary. SB2502 has the potential to squarely address the economics of energy upgrades.

I was in Springfield for Environmental Lobby Day and am happy to report evidence of bipartisan support for this proposed bill. Still, our lawmakers need to hear from us to make sure this innovative program is made available to Illinois residents.

Katherine Schrank

Naperville