What you should know about the PACE program!



1 Comment

  1. Here’s what this program means for home owners: If you’re looking to make energy-efficient upgrades, but do not have the cash to do it, PACE can help you!

    Property owners across the US are using PACE because it saves them money and makes their buildings more valuable. PACE pays for 100% of a project’s costs and is repaid for up to 20 years with an assessment added to the property’s tax bill. PACE financing stays with the building upon sale and is easy to share with tenants. State and local governments sponsor PACE financing to create jobs, promote economic development, and protect the environment.

    The cost of the energy saving improvement is then repaid through an assessment on the owner’s annual property tax bill. Assessments are tied by a lien to the specific property. If the property is later sold, the assessment and lien stay with the property and become the obligation of the new owner, but the cost-saving benefits of the energy improvements also transfer to the new owner.

    Properly designed energy saving projects will allow property owners to save more on yearly energy costs than their property tax increase. In plain terms, PACE financing can help property owners achieve a net positive cash flow or economic benefit.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s