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Chicago & Midwest  + South Side  |  July 27, 2018
Paul Bubny
By: Paul Bubny

PACE Energy Efficiency Incentives Come to Chicago

The Property Assessed Clean Energy (PACE) program will become available to building owners here. Chicago’s City Council passed legislation this week to help finance energy-efficiency improvements to commercial, institutional and residential buildings citywide.

State lawmakers gave local municipalities authority this past spring to make PACE available to eligible property owners. Chicago’s program would be self-financed through user fees, with startup capital provided through a city bond issue.

“The cost savings are intended to be greater than the special assessments, so the energy improvements pay off as soon as they’re completed,” said Department of Planning and Development (DPD) Commissioner David Reifman.

PACE is already paying dividends for property owners in other states, said Stacy Paradis, executive director of the Midwest Energy Efficiency Alliance. “We have seen that PACE programs have successfully reduced energy use in hundreds of buildings across the Midwest, while lowering energy costs and supporting local clean energy jobs.”


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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