What is PACE energy Financing?
PACE (Property Assessed Clean Energy) is a simple form of energy financing that covers up to 100% of project costs.
Energy improvements that PACE covers include:
- Energy storage
- HVAC systems
- Lighting retrofits
- Water pumps
- Windows and doors
- Low-flow faucets/toilets/showerheads
- High efficiency roofs
Eligibility for PACE financing is based on the value of the property and offers a repayment plan for up to 25 years and an assessment added to property tax bills.
PACE has been growing rapidly with financing exceeding $2.3 billion for energy improvement projects.
This was estimated for 97,000 households and 750 commercial and multi-family buildings.
Aside from offering financing, PACE has created 20,500 clean energy jobs.
PACE Financing for Residential Purposes
A residential PACE provider, HERO, closed on $305 million in AA-rated green bonds in June.
HERO’s improvements have created about 12,000 local jobs and are projected to save property owners more than $2.4 billion in energy bills and reduce carbon emissions by 2.4 million tons.
PACE makes it possible for homeowners and business owners to not depend on limited financing options.
With no down payment and long term financing energy efficiency is now accessible and affordable more than ever before.
If you are a home, business, or property owner, and feel that utility costs are wearing you down, give us a call (573)777-4811 to find the savings you could be missing out on.