Green Project Marketing Services
Property Assessed Clean Energy (PACE)
PACE is a powerful tool for municipal governments to stimulate the local green economy while providing a competitive financing program for residential and commercial property owners. The ongoing challenge rests with the fact that about 40% of all energy consumed and close to 70% of electricity generated in the United States is used to heat, cool, light, and otherwise operate commercial buildings.
"Home energy efficiency is one of the easiest, most immediate and most cost-effective ways to reduce carbon pollution and save money on energy bills, while creating new jobs," said U.S. Secretary of Energy. "By developing and using tools to reduce residential energy use, we will spur economic growth here in America and help homeowners make cost-cutting improvements in their homes."
The founders of Renewable Funding developed and pioneered the PACE concept and the firm is the industry leader in the design, administration and financing of these programs. Due to federal regulatory issues, the development of PACE programs is suspended at this time. Renewable Funding, along with the PACENow Coalition, is actively engaged in working toward a solution that will enable PACE programs to thrive. For more information, please visit www.pacenation.us.
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. Property owner participation is 100% voluntary. State and local governments sponsor PACE financing to create jobs, promote economic development, and protect the environment.
PACE is an innovative program that makes it possible for owners of commercial and industrial properties to obtain low-cost, long-term financing for energy-efficiency, water conservation and renewable energy projects.
PACE statutes authorize municipalities and counties to work with private sector lenders to provide upfront financing to property owners for qualified projects, and to collect the repayment through annual assessments on the property’s real estate tax bill. The term of PACE financing may extend up to 20 years, resulting in utility and other cost savings that exceed the amount of the assessment payment. PACE legislation for commercial property has been adopted in 29 states and the District of Columbia.
PACE may prove to be the most effective way to pay for energy improvements for homes. Available now throughout California, PACE is saving money for homeowners, creating jobs, and helping local governments achieve important environmental goals.
PACENow supports and encourages new residential PACE programs that can help home owners and local governments achieve their goals. We endorse programs and PACE service providers that are meeting marketplace needs at high standards that protect the interests of all PACE stakeholders.
PACENow provides advice and guidance for those interested in starting residential PACE programs. We recommend a number of PACE best practices, many of which were developed in conjunction with the US Department of Energy in 2010.
To review various PACE laws, please click HERE. To learn about California SB 77 PACE laws, please click HERE.
For more information, please contact PACE at
or visit www.pacenation.us.
Contact Green Project Marketing
To discuss how your company and project can benefit from our services as well if there are representation opportunities, please contact Michel (Michael) Stevens, President, at (800) 260-6008 ext. 301 PST or mstevens[at]greenprojectmarketing[dot]com. Skype ID: GreenProjMktg.