Property Assessed Clean Energy (PACE) Loan
Categories: Credit
We’re not keeping PACE with climate change, but Property Assessed Clean Energy loans, or PACE loans, are one way we’re trying.
PACE loans are special loans designed to increase the demand for renewable energy and energy efficient improvements for both residential and commercial projects. Other things that can be done with PACE loans are making buildings more disaster-proof (think: fire, earthquakes, and floods, depending on the area) and more efficient (hello, water conservation). How can you increase demand for these environmentally-friendly and safety-concerned upgrades? Find the barriers, and lower them.
PACE programs are a way to get in on cleaner energies without the giant startup costs up front. PACE loans are optional, low-interest, and long-term, which may pay for themselves in energy savings for those who get them. State and local governments in the U.S. support PACE by creating municipal bonds to raise capital.
