Property-assessed clean energy, or PACE, financing is another solution to the first-cost hurdle. It provides property owners with up-front capital for implementing energy efficiency projects, including efficient lighting upgrades, roofing, HVAC, solar installations & other renewable energy projects. In this financing model local governments use their traditional assessment or improvement district authority to provide the cash for property owners. The loan is repaid via an assessment on property taxes, or another locally-collected tax or bill, such as a utility bill. The property assessments are secured by a lien that, as with other local government taxes and assessments, ranks senior to a mortgage lien.
Associated Renewable's Finance team helps property owners and managers get access to PACE financing through reputable market partnerships with local, state government bodies & public or private companies. Contact our Energy Solutions team at (212) 444-8215 to learn about PACE financing for your properties' energy efficiency goals.