The Lake County Board recently declared its intent to create a program that will provide commercial property owners in Lake County a long-term funding option for energy efficiency, renewable energy, and water conservation projects. The Property Assessed Clean Energy (PACE) Program will be provided through the federal Property Assessed Clean Energy Act, which is funded by interest and fees collected on PACE financed projects. The program has no cost to Lake County or its residents.
The next step for Lake County is to go through the process of choosing a program administrator and potentially renaming the PACE program, as to avoid confusion with the region’s suburban bus transportation system of the same name. The program launch is expected sometime in 2020.