Property Assessed Clean Energy (PACE)

Property Assessed Clean Energy (PACE) is a financing program that helps property owners install energy-efficient improvements or renewable energy systems. Through PACE, funding is provided upfront, which is then repaid over time through a special assessment added to the property tax bill. This mechanism allows homeowners and businesses to make eco-friendly upgrades without high upfront costs, while also increasing property value. PACE programs are typically supported by local or state governments, promoting sustainable development and reducing energy consumption.