PACE (Property Assessed Clean Energy)

Property Assessed Clean Energy (PACE) is a financing program that helps property owners fund energy-efficient improvements or renewable energy installations. Under PACE, the costs are covered upfront and repaid over time through a special assessment on the property tax bill. This allows homeowners and commercial property owners to access upgrades like solar panels or energy-efficient windows without large upfront costs. Since the repayment is tied to the property rather than the owner, it can be more accessible for those looking to improve energy efficiency while increasing property value.