Property Assessed Clean Energy (PACE)
PACE is a financing option that allows property owners to make improvements to their property pertaining to energy conservation, energy efficiency and wind-hardening. The program enables the property owner to pay back the financed amount on their annual property tax bill.
PACE allows a property owner to utilize the equity or value built-up over time from their original ownership date to serve as the main basis for the extension of credit. It is important that property owners fully understand all of their financing options to determine if PACE financing is the right option.
Using a PACE financing option means a property owner agrees to the program terms for financing, and repayment through a non-ad valorem special assessment added to their annual property tax bill.
Read our PACE Basics to learn more about using PACE as a financing option.