What is PACE financing?
At Green Squared, we hear that question a lot.
In short, PACE financing allows local municipalities to create their own financing districts which would provide financing for the installation of renewable-energy systems and energy-efficiency improvements to buildings and homes. The loans are repaid through an increased property tax assessment over a period of years, up to 20. The loans will carry a fixed interest rate and stay with the house- so if you move, the next tenant continues to pay for the loan through property taxes.
Here’s a link to House Bill 1937 that allows PACE funding in Texas.
Below is a great video which explains it very well.
I’ve been reading along for a while now. I just wanted to drop you a comment to say keep up the good work.
Thanks, Mike. I appreciate it. You can sign up to have every blog post emailed to you too, if you like.