First things first—what is PACE? PACE stands for property assessed clean energy, a model for financing solar projects that makes it easier for commercial (C-PACE) and residential (R-PACE) property owners to install solar structures. The model allows property owners to finance the upfront cost of new energy systems or other certain improvements on their property before paying back the costs over time through voluntary assessments.
PACE assessments are tied to the property, as opposed to an individual, and are typically based on an existing structure within a conventional assessment district. Typical projects funded within conventional assessment districts include municipal structures like streetlights, utility lines, and sewer systems.
Now that this method of financial modeling extends to energy efficiency projects (like solar), PACE can help property owners install solar structures without having to bear the burden of a heavy upfront cost. PACE solar loans are an easy way to improve the efficiency of your space while still maintaining the financial flexibility you need moving forward.