At Pace Avenue, our mission is to help 10 million homeowners plan smart home improvement projects, i.e. projects that save energy and water, and finance them affordably. That means we want to help people invest $250 billion into their homes and remove 200 million barrels of oil from annual circulation. That’s 8% of our current oil imports!
Veterans like me get excited about things like that.
In order to get there, we must address the needs of every day Americans.
The idea for Pace Avenue emerged from the solar industry, where much of our team has spent the greater part of the last 10 years. When you purchase a solar system, you are buying 30+ years worth of electricity upfront. That is a tough sell to any consumer, but is particularly difficult for low and moderate income Americans across the U.S., which is why solar has traditionally been a product reserved for wealthy Americans.
We have set out to fix this.
And the U.S. Department of Energy awarded us a $1.5 million SunShot Grant to help!
The key insight behind Property Assessed Clean Energy (PACE) is that improvements are more affordable if towns allow homeowners to attach the financing to their homes. PACE makes lenders more comfortable with homeowners who would not normally have access to affordable financing due to their income or credit.
When PACE Financing emerged, it was clear to us that this was not only the future of solar, but more broadly, a catalyst for a nationwide shift towards home energy-efficiency. Today, 75% of Californians live in neighborhoods where PACE has been made available by their local government.
We want to drive solar and energy-efficiency adoption in underserved neighborhoods.
The best way to create the change that we want to see in this world is to be on the front lines.
We are in California neighborhoods like Concord, San Leandro, Hayward, Union City and San Jose. We are knocking on doors every day, talking with homeowners, and showing them how they can take advantage of the programs available. We are partnering with hard-working local contractors who have chosen to focus their trades on energy-efficient products. To top it off, we are hiring passionate advocates who grew up in local neighborhoods just like yours, that will help us pursue our goal towards building a cleaner future.
Whether it is PACE or the next great innovative program, we are building a path to a cleaner, energy independent future for homeowners across America.
Thank you for joining us!