What is PACE?
Property Assessed Clean Energy (PACE) financing allows property owners to borrow money to pay for renewable energy systems, energy efficiency improvements, water conservation and/or seismic retrofits and spread the cost of the upgrade over a period of time. Payments are made through a special assessment on the property tax bill. Improving energy and water efficiency, installing renewable energy systems, and updating buildings for seismic safety are central to combating climate change and improving community resiliency. PACE is an innovative financing solution that helps property owners overcome the barrier of high up-front costs.