What Is PACE Financing?
Most of the energy in the United States is created by burning fossil fuel. In this day and age, anything that can help us reduce the consumption of this type of energy in a meaningful way is applauded. But the biggest barrier tends to be upfront costs involved with the purchase and installation of energy efficiency products or the use of renewable energy.
PACE funding could be the solution.
PACE stands for Property Assessed Clean Energy. This is a government sanctioned way to provide 100% financing for energy efficiency, renewable energy, and water conservation upgrades to buildings. The financing is paid back over a period of time up to 20 years with an assessment added to your tax bill. The energy savings one realizes each year more than offset your assessment payments. The long-term pay back contributes to an immediate positive cash flow as energy costs reduce significantly with these kinds of upgrades.
PACE assessments transfer to the new owner if you sell your property and under most leases the repayment can be easily shared with tenants.
This means PACE can pay all the upfront purchasing and installation costs for new heating and cooling systems, solar panels, water pumps, insulation and lighting improvements.
PACE is a great program to use for financing a building’s upgrades to LED Lighting.
It is up to states and then individual counties in the state to adopt the PACE funding program. Qualified PACE service providers (licensed contractors) who install energy efficient equipment can be hired by PACE Program Directors to help building owners with their energy efficiency upgrades.
Consumer Energy Solutions is a PACE Program Director in Florida and New York. That means that CES can hire qualified contractors in those areas to do the installation of energy efficient equipment. New states and counties are setting up to offer PACE funding as the word spreads. Call CES today to find out if your county is included in the PACE program.
Who qualifies for PACE funding?
These types of buildings can qualify for PACE funding if it’s available in your area:
To find out what we can do for you in Florida and New York or when PACE funding may be coming to your area, call: