PACE Finance Program for Florida
What is PACE?
PACE (Property Assessed Clean Energy) is a simple and effective way to finance energy efficiency, renewable energy, and water conservation upgrades to buildings. PACE can pay for new heating and cooling systems and more for almost any property – homes, commercial, industrial, non-profit, and agricultural.
Property owners across the US and in Florida are using PACE because it lowers utility bills and may make their buildings more valuable. PACE pays for 100% 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 may stay with the building upon sale and is easy to share with tenants. State and local governments sponsor PACE financing to create jobs, promote economic development, and protect the environment.
How Does it Work?
PACE is a national initiative, but programs are established locally and tailored to meet regional market needs. State legislation is passed that authorizes municipalities to establish PACE programs, and local governments have developed a variety of program models that have been successfully implemented. Regardless of model, there are several keystones that hold true for every PACE program.
- PACE is voluntary for all parties involved.
- PACE can cover 100% of a project’s hard and soft costs.
- Long financing terms up to 20 years.
- Can be combined with utility, local and federal incentive programs.
- Energy projects are permanently affixed to a property.
- The PACE assessment is filed with the local municipality as a lien on the property.
Why Apply for and use PACE?
- No upfront costs
- Qualification is based on equity, not FICO score.
- Lower your energy bill
- Add value to your home or building
Below are the 3 Programs currently available for the areas served by Bay Area Heating and Cooling (unincorporated Pasco and Hillsborough counties). To see if your property qualifies for PACE and to apply, contact Chris Gourdine at firstname.lastname@example.org or call us at (727) 565-4555.