PACE Financing for Commercial and Industrial Facilities
Property Assessed Clean Energy or PACE financing allows property owners to finance energy systems optimization, solar PV and water conservation upgrades to buildings that help reduce energy usage and costs. PACE can pay for lighting, mechanical, and building automation system improvements, new solar PV systems and more.
Why use PACE financing?
PACE financing provides up to 100 percent of a project’s costs and is repaid for up to 20 years with an assessment added to the property’s tax bill. PACE financing is tied to the property, not the owner, and is easy to share with tenants.
-100 percent financing can eliminate the need to pay out of pocket for project costs
-Repayment may be amortized for a period of up to 20 years, keeping monthly payments low enough that energy cost savings may exceed monthly payment amount, creating a net positive cash flow
-Interest may be tax deductible
-Loan is tied to the property, not the owner, and is transferred upon sale or refinancing of the property