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Texas: New PACE law could spur multimillion dollar energy upgrades

Property owners who had been hesitant to invest in multimillion-dollar upgrades to improve the efficiency of their water and electricity systems have a new program that will allow them to finance the expenditures through the state.

With his signature, Texas Gov. Rick Perry has signed into law the Property Assessed Clean Energy Act, which enables business and property owners to apply for long-term loans that stay attached to the property in the event of a sale.

Dan Parsley, president and chief operating officer of Houston-based Energy Efficiency & Sustainability Consulting, said he expects the new program will be a real growth opportunity for his company, resulting in “more jobs, more revenue for us and more sales tax for our local communities. Read more.