Steam Builds for ‘PACE’ Firms to Drive Energy Efficiency Retrofits

The Property Assessed Clean Energy (PACE) financing model is gaining momentum as a key driver of energy efficiency retrofits in both commercial and residential markets, attracting financings of over $350 million in recent months.

PACE is a method by which homeowners can pay for clean energy projects through incrementally increasing property tax bills over 10 to 20 years. After lengthy court battles and a good dose of political grandstanding, PACE programs are finally building steam. Accordingly, a key component of the clean energy initiatives outlined by the White House last summer includes freeing up further PACE financing.

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