What is PACE financing?

Submitted by nick on Sun, 07/21/2019 - 9:41pm

What is PACE?

Property Assessed Clean Energy (PACE) is affordable financing that allows property owners to pay for upgrades that increase energy efficiency, harness renewable energy, conserve water, and protect against storms.

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How does PACE Work?

Get Prequalified

Find contractor for project

Complete upgrade project with contractor

Repay through property taxes

Get Started

Is PACE a loan?

Despite some similarities, PACE isn’t a loan. PACE financing does provide you with upfront money which you have to repay over time (with a low interest rate). But because the financing is attached to the property and repaid through your property taxes, it’s classified as a property assessment instead of a loan.

Is PACE a loan?

Is PACE a government incentive or discount program?

No. PACE programs are made possible by state legislation and approved by local governments. However, PACE financing is not a government incentive or subsidy program. PACE does not provide any special discounts, government funding, or payment forgiveness to those who opt to use it.

What determines my eligibility for PACE?

PACE eligibility is based on a variety of factors, primarily the amount of equity you have in your home, your ability to repay the assessment, and your mortgage payment history.

What determines my eligibility for PACE?

PACE eligibility is based on a variety of factors, primarily the amount of equity you have in your home, your ability to repay the assessment, and your mortgage payment history.

Why is PACE a good financing option?

PACE financing is a nontraditional type of financing that combines some of different financing options into one. See some of the many benefits of PACE below.