What if building and residential property owners could access 100% financing for renewable energy projects today, with zero upfront payments and no out-of-pockets costs?
PACE financing, already adopted in 29 stated and the District of Columbia, is a green building game changer. Simply put, PACE statutes provide municipalities with a clear path to private-sector lending which, in turn, fronts renewable energy investment money to property owners. The money is then paid back as a transferable property tax assessment over a period of 20 years, offsetting the initial cost of the loan.
So, what are the issues?
The amount of renewable energy project financing available today still falls short and fails to meet demand. The PACE strategy has room to grow by expanding into more states and communities and gaining more widespread acceptance.
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