Ohio PACE Financing
Congratulations, Ohio property owners! You live in a state that supports property tax solar financing.
How does Ohio municipal financing work?
The State of Ohio authorizes municipalities to establish special energy improvement districts that offer property owners financing for solar power. The property owner repays the loan through a special assessment on the property tax bill over a 25-year period. The loans will carry a low 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 Ohio able to do this?
Thanks to Ohio’s HB 1 law, enacted July 2009, property owners statewide can participate in such municipality-run programs.
Is solar financing available now?
Not yet, but soon! The idea of municipal solar financing in Ohio was pioneered by the city of Athens, which is in the process of finalizing details of a municipal program based on the new legislation. The program—called the Athens Solar Initiative—aims to utilize existing state and federal incentives to significantly reduce the cost of solar systems.
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