property assessed clean energy (PACE) financing

Property Assessed Clean Energy (PACE) financing is a way for property owners to fund energy-efficient improvements or renewable energy installations, like solar panels or insulation, without upfront costs. Instead of paying cash, property owners can borrow money and repay it over time through a special assessment on their property tax bill. This approach makes it easier for homeowners and businesses to invest in green upgrades while making payments more manageable. PACE programs are typically offered by local governments, using the financing to promote sustainability and reduce energy consumption in their communities.