How to afford energy-efficient projects and upgrades for your property
What It Is
PACE or Property Assessed Clean Energy is an initiative to help offset or even finance 100% of the cost on energy-related improvement projects for commercial, non-profit, and residential properties. Property owners can enjoy a payback period of up to 20 years, plus annual energy savings that typically exceed assessment payments without the dread of upfront, out-of-pocket expenses that can be a deal-breaker for pursuing upgrades. Ultimately, participants reap higher-value buildings with improvements that lower the cost of doing business.
PACE enables funding for energy efficiency, renewable energy, and water conservation projects such as:
- New heating and cooling systems
- Improvements to lighting
- Insulation upgrades
- Solar panels
- Fuel cells
- Water pumps
What Drives Pace?
While PACE is a nation-wide initiative, programs are grown at the local level where financing structures vary with many privately funded. The benefits of such programs revolve around economic development, job creation, and higher property values–all through clean energy. Protecting the environment is just as important, and PACE can help municipalities meet emissions-reduction goals by enabling further use of energy-efficient technology. In addition, PACE programs have…
- already helped 100,000 homeowners finance solar and energy efficiency improvements, reducing wasteful utility spending by billions of dollars.
- reduced the risk commercial property owners face when investing in capital expenditures. How? PACE follows the building, not the owner. Once sold, repayment of the loan as well as the savings incurred transfers to the new owner.
- provided energy service professionals with certification to offer PACE to their customers. This ability as well as PACE resources such as analytical tools and marketing materials improve customer service.
Where Is Pace?
Currently, 20 states throughout the U.S. hold active programs, and PACE-enabling legislation is active in 36 states. To discover the status of PACE in your neck of the woods, visit the map at PACEnation. For certain, acceptance of PACE legislation has resulted in steady growth by way of eligible projects, financing dollars, and job growth at the commercial and residential level. Help pass PACE legislation in your state or start a program in your PACE-enabled state.
At Haglid EngineeringTM, we would love to see this initiative flourish further. We believe that, in many cases, the only thing stopping people from upgrading to less expensive, more efficient, and healthier building tech is know-how and financing concerns. PACE offers realistic fiscal solutions for getting it done. Contact us to discuss PACE-eligible ideas and possibilities. We excel at developing innovative, energy-saving building solutions that save you money in a big way.