Property Assessed Clean Energy (PACE)
PACE is a simple and effective way to finance energy efficiency, renewable energy, and water conservation upgrades to buildings. State and local governments sponsor PACE financing to create jobs, promote economic development, and protect the environment.
PACE pays for 100% of a project’s costs and allows you to start saving money immediately. PACE is financed through energy savings and allows for surplus cash-flows. It lowers energy and operating costs, which saves money and makes buildings more valuable.
- Improved Environmental Social Responsibility (ESR)
- Increase NOI (net operating income) and valuation
- Retain financial incentives such as production credits and cash rebates
Understanding PACE funding
PACE is not a loan. It pays for itself in energy financing and is repaid for up to 20 years with an assessment added to the property. PACE funding stays with the building upon sale and is easy to share with tenants. You do not have to own the building to qualify for PACE.
- Long term repayment period (5-20 years)
- Low annual assessment
- Assessed on property
- No credit score required
- Does not go as debt on the balance sheet
- If the building is sold, remaining balance stays with the property
- Funded through county bonds
PACE provides 100% funding for energy efficient and renewable energy property upgrades
Who is eligible for PACE?
PACE is available for almost any property type, including:
What will PACE pay for?
PACE funds a wide range of energy assets, including:
Energy savings over time with PACE