Grandview Tire and Auto’s Solar Panels Garner National Attention

The New York Times is holding up Grandview Tire and Auto in Edina as an example of how a clean energy loan program can help businesses save money and the environment.

Owner Rick Murphy used the Property Assessed Clean Energy financing program—or PACE—to borrow $34,000 to install 117 solar panels on one of his family business’ five stores. He’ll pay the money back over 10 years. But instead of making the payments like a traditional loan, he’s paying it back on his property taxes.

The solar panels are now saving him $3,600 and attracting customers who like the company’s green image.

The New York Times says PACE is becoming increasingly popular with businesses like Grandview who stand to save from clean energy and conservation improvements but don’t have the money for the large upfront costs.

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