The Village of Newburgh Heights is the first entity to take advantage of the Northeast Ohio Public Energy Council energy efficiency financing, the council reported Thursday. The village secured financing of $325,000 to improve the recently purchased building at 4105 Harvard Ave. that now serves as its fire station and service garage.
NOPEC is the largest governmental retail aggregator in the nation that works cooperatively to achieve lower energy costs for its customers. It has over 200 communities in 13 counties: Cuyahoga, Lake, Ashtabula, Lorain, Huron, Summit, Medina, Portage, Trumbull, Columbiana, Mahoning, Seneca and Geauga.
NOPEC launched its Property Assessed Clean Energy (PACE) program in May. Newburgh Heights financed its project with NOPEC funding and will repay it through an assessment placed on the improved property. The assessment is paid twice a year over a 15-year term, ending in 2031.
Improvements made to the building include new LED lighting, ceiling fans and a new roof. These upgrades will reduce heat build-up, improve air circulation and increase insulation. Newburgh Heights completed the project in October and is now occupying the new facility. The improvements are expected to produce an annual energy savings of $3,322 for this building, according to NOPEC.
“This has been a fantastic experience and we really appreciate the assistance,” said Trevor Elkins, village mayor. I’m hopeful other communities take advantage of the opportunity.”
NOPEC provides financing of $100,000 to $500,000 for energy efficiency and renewable energy projects. “This program gives our members another community and economic development tool and our customers a way to finance smaller energy projects,” said Georgine Welo, NOPEC board member from Cuyahoga County.
SOURCE: Northeast Ohio Public Energy Council
Published by The Business Journal, Youngstown, Ohio.