EDINBURG – Hidalgo County Commissioners Court unanimously approved a resolution establishing the Hidalgo County Property Assessed Clean Energy (PACE) Program with an Interlocal Agreement between the county and the Lower Rio Grande Valley Development Council.
PACE, which is permitted by the Property Assessed Clean Energy Act, Texas LGC Chapter 399, allows local businesses to access funding from approved lenders for energy efficiency projects, such as water conservation, solar panels and HVAC improvements. These low interest, long-term loans are paid back from the energy savings provided by the improvements, said Hidalgo County Economic Development Director Michael Leo.
“Companies that take advantage of the PACE program, in the end, will actually save money and increase their cash flow,” Leo said.
Businesses interested in learning more about PACE or how to apply for the loans are encouraged to contact the Lower Rio Grande Valley Development Council at (956) 682-3481.