PROPERTY ASSESSED CLEAN ENERGY (PACE)

As solar firmengebaude” by ChristofferRiemer is licensed under CC BY 3.0

a financing mechanism in which energy efficiency and renewable energy improvements on private residential (R-PACE) and commercial property (C-PACE) are attached to the property and repaid through the property tax bill.

Pros

Expands access to clean energy by allowing for long-term project financing with little or no money down, thereby increasing the number of RE and EE development opportunities.

Cons

PACE legislation is adopted on a state-by-state basis (there is no national standard). Key differences between C-PACE and R-PACE have resulted in different rates of adoption and implementation across the U.S.

Real Talk

While enacted at the state level, local rules apply. PACE is an important tool in the toolbox for communities considering the transition to 100% renewable energy.