What is PACE Financing?

PACE (or Property Assessed Clean Energy) is a simple and effective way to finance energy efficiency, renewable energy, and water conservation upgrades to buildings. PACE can pay for a variety of energy improvement projects for almost every type of property, from residential homes and commercial buildings to agricultural and industrial structures.
 

How Does PACE Work?

  • Local governments can offer PACE financing to qualified business owners once your state passes the enabling laws. Using PACE financing is voluntary.
  • Owners work with qualified PACE service providers to help choose cost effective projects that will be the most beneficial to the owners.
  • These qualified PACE programs process applications and qualify projects so that financing can be arranged to cover the costs. Once the financing is in place, and the funds are distributed, a final assessment or charge is added to the property’s tax roll.

Why Should I Choose PACE?

Three Big Benefits of Using PACE for Your Next Project 

Saves You Money

Property owners are more focused today than ever before on energy and water conservation. PACE helps you save money by lowering your overall water and energy usage. In addition funding your project through PACE gives you immediate positive cash flow due to the long payback terms and low up front costs.

 
Creates Jobs in the Local Economy
In the 2011 study done by ECONorthwest, for every $1 million in project spending we see an increase in 15 new jobs and $2.5M in economic output, so as you can see using PACE to fund your next project will contribute to creating more jobs and economic activity.
 
 
Helps the Environment
Using PACE to make clean energy improvements to your home helps the surrounding community work towards achieving energy and water conservation goals. Upgrading old home equipment/technology improves your homes efficiency resulting in lower energy use, while switching to renewables cuts dependency on fossil fuels ultimately reducing green house gas production.
 
Want to Learn More?
If you’re interested in financing your next project with PACE and would like to learn more, check out our FAQ for all things PACE related. As well energy.gov has detailed information on PACE and gives you a look at where these programs are currently available.
 

Ready to Finance Your Next Project With PACE?