Building owners save on energy costs while increasing the value of their investment by participating in Property Assessed Clean Energy (PACE) financing. By allowing building owners to pay for energy improvements with a property tax bill assessment, projects can be done with no upfront investment.
PACE programs exist in multiple states to help finance energy efficiency and renewable energy improvement projects. Using PACE, qualifying energy projects are financed through assessments to a property owner’s real estate tax bill. Assessments are used to secure local government bonds which fund the improvements without requiring the borrowing business to use its own credit.
PACE financing is available for:
- Solar arrays
- On-site power generation projects such as CHP – operated in parallel with electric transmission and distribution facilities serving the property – and intended primarily to offset all or part of the electricity requirements of the facility-owner.
- Energy efficiency improvement projects defined to include technologies, products and activities that reduce or support the reduction of energy consumption, allow for the reduction in demand, or support the production of clean, renewable energy and that are or will be permanently fixed to real property.
Let GEM Energy show you how an energy upgrade or renewable energy project can be done at your facility with no current capital expenditure.