Keeping PACE with Energy Efficiency Financing
It’s no secret that building owners can save money by investing in energy efficiency improvements. But what if they want to finance the upfront costs of an upgrade? That’s where the Property Assessed Clean Energy Act, or PACE, can help. PACE is one of the newest and most exciting funding options for clean energy and water conservation. Legislation enabling PACE funding has been enacted in 31 states, paving the way for property owners to make significant upgrades to their infrastructure and realize immediate cash flow benefits. Local programs are currently being developed nationwide.
How Does It Work?
PACE financing addresses one barrier many building owners face when considering energy efficiency upgrades: the upfront cost. It provides 100% financing through long-term loans offered by municipal governments which business owners pay back over 20 years via an annual assessment on their property tax bills. This unique system allows property owners to treat energy efficiency improvements as expenses rather than capital budget items and the loan stays with the building upon its sale, making it easy to share with tenants.
Who Is Eligible?
What Are the Benefits?
- 100% up-front financing
- Long-term funding
- Immediate cash flow
- Stays with building upon sale
- Easy to pass payments to tenants
- Improves property value
Where Is It Available?
PACE financing is currently available or being developed in 31 states. To find your local PACE program or to support the development of PACE programs, click here.
Click here to contact EES Consulting to find out how you can permanently reduce operating expense and secure 100% up-front financing.