PACE Financing hasn’t made plans to expand to Columbia yet, but is headed to St. Louis, Jefferson City, Joplin, and Kansas City to name a few places in Missouri.
It allows businesses to finance their energy efficient projects with the energy savings and it is paid for your property taxes. PACE also allows you to retain all the incentives.
With hopes of gaining traction around the country, PACE is playing a key role in states such as California, Florida, and Colorado.
What is PACE?
PACE (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 new heating and cooling systems, lighting improvements, solar panels, water pumps, insulation, and more for almost any property (homes, commercial, industrial, non-profit, and agricultural).
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 the Answer
PACE overcomes challenges that have hindered adoption of energy efficiency and related projects in our nation’s buildings. Its financing solves the upfront cost barrier by providing 100% financing for project costs.
Long term repayment of up to 20 years makes longer payback projects immediately cash flow positive and buildings more valuable.
Property owners are more focused today than ever before on energy and water conservation. PACE helps them save money by lowering energy costs. Long term pay back makes PACE funded project immediately cash flow positive.
PACE funded projects create more jobs and economic activity. According to the 2011 study by ECONorthwest, every $1 million in project spending results in 15 new jobs and $2.5 in economic output.
Communities achieve important energy and water conservation goals with the help of PACE. Efficiency projects upgrade old equipment which reduces energy use, while renewables replace fossil fuels and reduce greenhouse gas emissions.