Maryland proposal would fund commercial green-energy retrofits

A proposed bill in the Montgomery County, Md., Council would provide an innovative way to encourage commercial property owners to perform green-energy retrofits. The property owner would need to prove energy savings would occur to be eligible for a loan, which would be repaid through the property-tax bill. The fund would be seeded with general fund dollars and possibly private sources.
May 13, 2013

A proposed bill in the Montgomery County, Md., Council would provide an innovative way to encourage commercial property owners to perform green-energy retrofits. The property owner would need to prove energy savings would occur to be eligible for a loan, which would be repaid through the property-tax bill. The fund would be seeded with general fund dollars and possibly private sources.

An owner could borrow money to buy or install energy efficient equipment. The loan would constitute a first lien on the property and would remain attached to the mortgage if the building is sold. Under the bill, eligible property owners must have completed an energy audit or renewable energy system feasibility analysis that assesses the expected energy cost savings over the useful life of the new equipment.

(http://www.bizjournals.com/washington/blog/2013/04/montgomery-county-leader-proposes.html)

About the Author

Drew Ballensky

Drew Ballensky is general manager of Duro-Last Roofing, Inc.’s central U.S. facility in Iowa and company spokesman for Duro-Last’s cool roofing, sustainability and architectural education programs. He is past-president of the Chemical Fabrics and Film Association and chairman of CFFA’s Vinyl Roofing Division. Drew earned his bachelor’s degree in industrial technology from the University of Northern Iowa and master’s degree in business administration from Florida State University. Drew has over 29 years experience in business and industry in various engineering and managerial capacities. He has worked in the U.S. and Canadian operations for a major international manufacturer of pre-engineered steel buildings, was a financial analyst with a major athletic apparel manufacturer and was an owner of a general contracting company.
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