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NOPEC officials outline grants, tax credits and small‑business loans available to Lorain
Summary
NOPEC representatives briefed the committee on member benefits including gas aggregation, community grants awarded to Lorain since 2019, energy audit support and small‑business lending (PACE and STEP) to fund energy-efficiency and clean‑energy projects.
Kyla Presto and Aaron Markovi of NOPEC presented the agency’s community investment and small‑business assistance programs to the Streets & Utilities Committee and described resources available to Lorain residents and businesses through membership.
Presto said NOPEC, Ohio’s governmental energy aggregator, provides gas aggregation for the city and a set of benefits that include a community grants program, sponsorships and 24‑7 customer care. “Since the 2019 disbursement of that program, the city has received $797,000 over $797,000 in grant funds,” Presto said, adding that the city received $28,313 in the most recent year for energy improvements.
Nut graf: NOPEC offers grant support for energy audits, technical-assistance referrals and two lending programs designed for small businesses — a property assessed clean energy (PACE) product and a savings‑through‑efficiency (STEP) loan — and the agency helps businesses identify federal and state tax credits and incentives that can defray project costs.
Aaron Markovi, NOPEC’s director of economic development and community investment, described the agency’s energy‑audit grant program. NOPEC will cover much of the audit cost (typical audits in NOPEC’s portfolio run a few thousand dollars) up to a $20,000 cap and often pays a high share of the audit fee, Markovi said. He urged business owners to get an audit because many grant and loan programs require one as part of the application.
Markovi described PACE and STEP lending for small businesses and nonprofits: PACE is property‑assessed financing that repays through tax assessments and can cover up to 100 percent of qualified energy measures; NOPEC’s small‑business PACE program targets amounts far below many private PACE lenders and typically carries fixed, lower interest rates in the agency’s portfolio (Markovi reported a managed‑portfolio average deal size around $445,000). STEP offers up to $125,000 per project at a fixed 5 percent rate and no prepayment penalty, Markovi said, and both programs are designed for small commercial borrowers.
NOPEC staff also summarized federal incentives under the Inflation Reduction Act, including the commercial solar investment tax credit (30 percent baseline and potentially higher with bonus features) and refundable/direct‑pay options that can benefit nonprofits and municipalities. Markovi stressed that federal and state incentives are evolving and encouraged businesses to consult NOPEC staff for up‑to‑date guidance.
Ending: NOPEC asked council members to refer small businesses and nonprofits to the agency for energy audits, grant assistance and lending. The presenters left printed materials and said staff will follow up with the city to help route applicants to appropriate programs.
