Senior living communities frequently face the challenge of updating their facilities to meet current energy efficiency standards while staying within budget. PACE financing is a viable solution, as evidenced by the Ivy Knoll Senior Retirement Community. This seven-story, all-electric building used PACE financing for a $750,000 project that included the installation of solar panels, LED lighting, and elevator modernization. These upgrades are expected to result in significant energy savings, including 64,000 kilowatt-hours of solar energy per year and an estimated $12,000 in annual lighting costs. Additionally, elevator modernization is expected to reduce energy consumption by 40%. Implementing such improvements not only lowers operational costs, but also increases resident comfort and satisfaction, establishing the facility as a forward-thinking leader in sustainable senior living.
Author: CleanFund .
