Texas PACE Authority promotes energy efficiency funding at Dallas City meeting

During a recent Richardson City Council work session, representatives from the Texas PACE Authority presented an initiative aimed at enhancing energy efficiency across local businesses. The Texas PACE Authority, established in 2015, focuses on facilitating clean energy projects through a program known as PACE in a Box. This program allows property owners to finance energy and water-related improvements over a period of up to 20 years, alleviating financial barriers that have historically hindered upgrades.

The PACE (Property Assessed Clean Energy) program, authorized by the Texas legislature in 2013, enables local governments to create districts where property owners can make significant energy improvements. These improvements can be financed through assessments on their properties, allowing for a more manageable payment structure. The goal is to achieve a savings investment ratio of 1, meaning businesses can make upgrades without incurring out-of-pocket expenses.

The urgency of this initiative is underscored by projections from ERCOT, which estimate that electricity demand in Texas could rise by 150 gigawatts by 2031, reaching a total of 218 gigawatts. This increase is particularly concerning given that the current peak demand was only 85 gigawatts, recorded during the recent heat wave. The Texas PACE Authority is advocating for cities to engage with local chambers of commerce to promote energy reduction goals and consider establishing foundations that could provide matching grants to support these initiatives.

By encouraging businesses to adopt energy-efficient practices, the Texas PACE Authority aims to not only reduce energy consumption but also bolster the reliability of the Texas energy grid. The collaboration between local governments and businesses is seen as a critical step in addressing the rising energy demands and ensuring a sustainable energy future for the region.