About PACE

Jwanzaa volunteer swapping out old light bulb for CFL

We think PACE financing is a brilliant concept because it makes it easy for people to add solar or retrofit their homes. It means you can get the comforts (no more cold spots) and financial benefits (no more big electricity bills!) of energy efficiency upfront, but spread the cost over 20 years by adding it to your property tax bill. Plus, it creates local jobs and lowers carbon emissions.

We created this site as a resource for people interested in improving their lifestyles, their homes, and their communities. Whether by decreasing waste through energy efficiency or increasing renewable energy usage through solar, PACE bonds offer that choice. That’s incredibly exciting to us, and as it comes to your neighborhood, we hope it’s exciting to you too.

How do PACE programs work?

  1. The city partners with a company to administer the program (or the city decides to do it themselves).
  2. The program is then usually funded with municipal bonds.
  3. The homeowner gets a site evaluation for solar power or energy efficiency improvements with any company they choose.
  4. Once a quote is given, the property owner applies with the city program administrator. A small fee covers the cost of the municipal solar financing program administration and discourages frivolous applications.
  5. Once the homeowner’s solar system is approved by the city, the program administrator pays the installer for the system that the homeowner purchased. The check is forwarded directly to the solar installer. There is no upfront payment for the homeowner, except possibly a deposit.
  6. The property owner pays it off on his or her property tax bill over 20 years, at a competitive rate of interest.
  7. If the home is ever sold, the solar system goes with it along with any tax liability.

More information about the general PACE program (courtesy of PACE pal One Block Off the Grid)

Know anything we don’t? Helps us keep this fresh and up to date as a resource. If you have information on any of these programs, or new programs that aren’t on the list, please let us know:

 

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