Alameda County PACE Financing
How does Alameda County’s energy efficiency financing program work?
Alameda County’s Green Packages Program aims to improve the environmental performance of existing buildings and landscapes. The program will include an energy efficiency portion, which will allow property owners to install solar systems and make energy efficiency improvements to their buildings and pay for the cost over 20 years through an annual special tax or assessment on their property tax. The loans will carry a fixed interest rate and stay with the house–so if you move, the next tenant continues to pay for the loan through property taxes.
That sounds great! How is Alameda County able to do this?
Alameda County’s program is made possible thanks to California’s AB811 law, which allows loan programs to pay back investments in renewable energy systems through property tax payments.
When Will the Program Start?
The program will be launched in December 2009.