Problem
With scientists’ predictions of a massive earthquake affecting a sizable portion of the Pacific Northwest in the next 50 years, too few commercial buildings are prepared for a natural disaster of such scale. Moreover, climate change has meant hotter summers and extreme winters that drive up demand for energy. Yet too few building owners have access to the capital and the expertise needed to address these energy needs.
Solution
Building Ready Multnomah” initiative to make commercial buildings earthquake safe and energy smart. The initiative adopts a “Property Assessed Clean Energy” (PACE) model to help finance energy efficiency upgrades to buildings. This method helps identify the most effective upgrades for each individual building. And by providing longer loan repayment options, payments can be offset by future savings from reduced energy use and the value of renewable energy generated. These savings can also help cover the necessary seismic upgrades to help the community prepare for future natural disasters.
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