Property Assessed Clean Energy (PACE)
PACE is an innovative program that enables property owners to obtain low-cost, long-term loans for energy efficiency, renewable energy, and water conservation improvements. Projects financed using PACE can generate positive cash flow upon completion with no up-front, out-of-pocket cost to property owners—eliminating the financial barriers that typically prevent investment in revitalizing aging properties.
PACE financing is repaid as an assessment on the property’s regular tax bill, and is processed the same way as other local public benefit assessments (like sidewalks and sewers) have been for decades. PACE can be used for energy efficiency, renewable energy, water conservation projects, and more!