Council Votes To Join Show Me PACE

The Bourbon City Council on March 21 approved joining Show Me PACE.

PACE (Property Assessed Clean Energy) is a financing mechanism for property owners to pay for energy effienciey and renewables.

Financing is from private capital and doesn’t use taxpayer funds.

The financing is repaid through an annual assessment on the property.

PACE lenders offer 100 percent upfront financing for eligible improvements through fixed-rated loans for up to 20 years, but the savings must exceed the cost of the measures.

More than 70 municipalities and five counties in Missouri participate in PACE.

Cuba, Rolla and St. James are among the nearby participating municipalities.

Franklin County is a PACE county.

According to Show Me PACE, in 2020, more than $213,000 was loaned, saving more than 343,000 kilowatts per hour and 4.5 million pounds of carbon dioxide.

Show Me PACE was established in 2015 and is administered by the Missouri Energy Initiative (MEI).