ST. LOUIS — All eyes are on an innovative way of funding energy efficiency improvements to aging structures as IBEW/NECA team to help make the historic Missouri Athletic Club more energy efficient.

The $2.4 million project is being financed through Set the Pace (Property Assessed Clean Energy) St. Louis and is the largest of its kind in the nation this year. St. Louis-based Kaemmerlen Electric is managing the electrical upgrades. Kaemmerlen is part of the Electrical Connection, a partnership of the International Brotherhood of Electrical Workers (IBEW) Local One and the St. Louis Chapter of the National Electrical Contractor Association.

PACE provides financing for energy efficiency and renewable energy upgrades which can be spread out for up to 20 years so annual loan payments are offset by energy savings. According to Byron DeLear of Energy Equity Funding LLC, which administers the Set the PACE St. Louis program, MAC’s cost savings from the improvements would begin at about $200,000 annually and could total $362,000 by year 20. Set the PACE St. Louis was launched in 2013.

“The skills of the IBEW/NECA team give the MAC the best opportunity to reap the full cost saving benefits of the PACE program,” said DeLear. “This includes greater long-term property value.” The improvements to the MAC will include energy management controls, HVAC upgrades, high-efficiency lighting, and new on-site steam generation.

The MAC’s downtown location at 405 Washington was built in 1916 and is now is listed on the National Register of Historic Places. “Given the number of historic and aging structures in St. Louis, we believe the PACE program is a great asset to the city of St. Louis’ sustainability plan and something our highly skilled workforce can deliver outstanding results,” said Frank Jacobs, business manager, IBEW Local One.

“One of the biggest barriers to energy efficient improvements is upfront financing,” added Doug Martin, executive vice president, St. Louis Chapter, NECA. “PACE provides a sensible way to spread out costs and make best use of the financing by engaging our NECA electrical contractors’ proficiencies in engineering and managing energy efficient upgrades, including renewable energy.”

Nationally, commercial PACE programs are found in more than 30 states, where 330 property owners have used more than $123 million in PACE financing to upgrade their buildings, according to PACENow, a national PACE advocacy organization.

“We continue to seek out progressive partners, such as the PACE program, to leverage the skills and safety of our IBEW/NECA team to deliver the best value in new construction and renovations,” said Jim Curran, executive vice president, Electrical Connection.