Property Assessed Clean Energy (PACE)
Property Assessed Clean Energy (PACE) is a voluntary financing program providing long-term funding for energy efficiency, renewable energy and other qualifying improvements made to property.
Property Assessed Clean Energy (PACE)
At a glance
The addition of Property Assessed Clean Energy (PACE) financing into the comprehensive capital stack of a new development or the enhancement of an existing facility provides short-term and long-term advantages.
The PACE program allows low-cost, up-front financing to make energy improvements that can provide substantial savings year over year. The property owner has the benefit of repaying the PACE financing as an assessment on their property tax bill.
How it works
PACE is enabled by state legislation and established locally through counties and municipalities for eligible improvements to a variety of buildings, including: hotels, retail, industrial, multi-family and office buildings. We help your company navigate the PACE funding and approval process and integrate PACE with the other financing sources for your project.
Program established
Established at the state and local level after passed legislation. Counties and Municipalities establish a PACE program that fits their direct needs.
Apply for financing
Property owners voluntarily apply for PACE financing based on their project goals in order to pay for the upfront cost of desired improvements.
