What is PACE ?
PACE (Property Assessed Clean Energy) is a simple and effective way to finance energy efficiency, renewable energy, water conservation and in Florida, also hurricane hardening (.) upgrades to buildings and homes.
PACE can pay for new Impact resistant windows & doors, roofing, heating and cooling systems, lighting improvements, solar panels, water pumps, insulation, and more for almost any property – homes, commercial, industrial, non-profit, and agricultural. Watch this short video to learn more!
Property owners across the US are using PACE because it saves them money and makes their buildings more valuable. PACE pays for 100% of a project’s costs and is repaid for up to 20 years with an assessment added to the property’s tax bill. PACE financing stays with the building upon sale and is easy to share with tenants. State and local governments sponsor PACE financing to create jobs, promote economic development, and protect the environment.
PACE is an innovative program that makes it possible for owners of commercial, residential and industrial properties to obtain low-cost, long-term financing for energy-efficiency, water conservation and renewable energy projects.
PACE financing has many features that can uniquely solve barriers to the adoption of energy efficiency measures.
• 100% financing requires no up-front cash investment
• Long-term financing (up to 20 years) results in immediate positive cash flow
• No payoff upon sale because PACE assessments (and energy savings) remain with the property
• Assessment costs and savings can be shared with tenants
• PACE can attract a wide range of private investors with low interest rates
• PACE may be treated as off balance sheet financing
• Non-recourse, non-accelerating financing
• PACE programs are local and community members are motivated to engage in outreach and marketing efforts
Interested in PACE financing? We can help!
Let com-ESCO manage your next project.