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what is the PACE program

Why PACE exists.

Every year, 1 in 6 homeowners[1] make home upgrades that affect energy consumption. Unfortunately, the majority of them install inefficient products that not only waste natural resources, they cost more to run — leading to higher utility bills. The Property Assessed Clean Energy (PACE) Program is an innovative financial option that helps homeowners replace old, outmoded systems with more energy efficient options. All with potential tax benefits.[2]

[1] 2011 U.S. Census, American Housing Survey
[2] Please consult your tax advisor to see if you may be eligible for potential tax benefits.

How PACE works.

State and local governments establish PACE legislation that allows programs like Renovate America’s HERO Program to provide funds to property owners for eligible improvements.

Property owners voluntarily apply for PACE financing and, if they qualify, receive PACE financing for eligible improvements.

Property owners repay their improvement costs through an assessment on their property tax bill.

Why PACE financing is different.

Unlike many other financing options, PACE allows the property owner to pay for improvements over time through an assessment on their property tax bill. Eligibility is based primarily on available equity in the property and the debt payment history of the the property owner(s). Many PACE programs, like Renovate America’s HERO Program, also come with a suite of consumer safeguards.
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PACE-eligible products are based on geographic needs.

Eligible products vary by community based on the environmental needs of that area. Generally, PACE financing can be used for projects that save energy and water or improve home performance – from generating renewable energy and conserving water, to prepping a home for hurricanes.

Popular PACE projects include solar energy systems, central air conditioning, energy-efficient windows and doors, cool roofing, insulation and water heaters. In California, water-saving upgrades help contribute to drought mitigation efforts. In Florida, hurricane-protection measures like storm shutters and roofing can help make neighborhoods safer while reducing insurance premiums. 


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PACE helps fuel local economies.

For local governments, PACE is an economic development engine capable of fueling skilled local job creation, energy savings and carbon emission reductions. PACE also attracts global investment bond capital into local communities across the country through public-private partnerships with companies like Renovate America, adding economic stimulus while improving local housing stock. All of this is accomplished through a voluntary offering that requires no public spending to support.


PACE meets broad public policy objectives.

Expands access to home improvement financing for homeowners who have equity in their homes, but may not have high enough FICO scores to access other options, or need to spread payments over a longer term.

Improves how the home improvement marketplace works by enforcing standards of conduct and best practices on contractors, and monitoring contractor performance.

Removing a barrier to making a meaningful investment in your home because a future buyer may be able to assume responsibility for the PACE assessment payments at the time of sale.


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