According to PACENation, an industry trade association, 130,000 homeowners have used PACE financing for energy efficiency, renewable energy, water conservation, and wind mitigation improvements, representing a total investment of $2.9 billion.
Property Assessed Clean Energy (PACE) programs help facilitate the financing of energy efficiency, renewable energy, water conservation and wind mitigation improvements on commercial and residential properties, and are sponsored by local and state governments.
In 2017, the U.S. Department of Energy released revised guidelines for best practices incorporating lessons learned from successful PACE programs.
The guidelines outline best practices that can help contractors, state and local governments, and other stakeholders implement programs that effectively deliver home energy and related upgrades.
PACE financing is repaid through special assessments that are paid with property taxes for the property that had the improvements installed.
For more information, read the Energy Department’s latest PACE guidelines.