Property Assessed Clean Energy (PACE)

PACE is a new financing model to finance energy efficiency and renewable energy products on residential and commercial buildings. Its primary purpose is to remove the two biggest obstacles preventing homeowners and commercial property owners from installing energy improvements: high up-front costs and ownership-transfer concerns.

PACE is based on 100-year old, land-secured municipal financing which enables local governments to finance improvements. Bonds are issed and secured by special taxes or assessments. Property owners receive money to fund eligible energy efficiency or renewable energy products and voluntarily agree to pay an annual special tax or assessment to repay the loan.

Today, the following states have adopted PACE legislation:

Other states have either introduced or are considering adopting PACE legislation as well.

In order for PACE financing to be available within your community, a city or county must form a "special tax district" or "assessment district" under authorizing legislation.

See Getting Started for more information about implementing your PACE program.