Property Assessed Clean Energy (PACE) is an innovative way to finance energy efficiency and renewable energy upgrades to commercial buildings. Interested property owners evaluate measures that achieve energy savings and receive 100% financing, repaid as property tax assessment for up to 20 years. The assessment mechanism has been used nationwide for decades to access low-cost long-term capital to finance improvements to private property that meet a public purpose. By eliminating upfront costs, providing low-cost long-term financing and making it easy for building owners to transfer repayment obligations to a new owner upon sale, PACE overcomes challenges that have hindered adoption of energy efficiency and related projects in our nation’s buildings.
PACE is a local government/community initiative that creates permanent private sector jobs, strengthening our local and national economies. Buildings use nearly half of the energy we consume in the United States. PACE programs help make our nation more energy independent and secure while safeguarding our environment by reducing demand for fossil fuels. The PACE financing mechanism provides a strong credit that is attractive to private sector investors and without government subsidies.
PACE is voluntary. Property owners, acting in their own self interest, implement building upgrades that can save them money and increase the value of their property.
If you would like to learn more about PACE, click on the GET SOLAR NOW button.