Property Assessed Clean Energy (PACE)
“Just shifting utility expense to a fixed property expense with a lower payment that is not subject to increases.”
On March 26, 2015, Travis County became the first jurisdiction in Texas to formally adopt PACE. This innovative program allows commercial and industrial property owners to access long term financing for projects that reduce their energy and water consumption secured against the value of the property, rather than the business or its owners. PACE loan payments are billed and collected by Travis County as a Property Assessment in a single annual payment.
Lenders Love It!
Lenders offer very competitive financing rates, due to the security of knowing that the loan stays with the property until it comes to term. If a property is sold, the PACE loan transfers to the new owner, and does not have to be paid off at transfer of property title.
- PACE Projects are cash positive from day one; Savings to Improvement Ratio is > 1
- Buildings are upgraded with solar and deep energy or water conservation retrofits, which helps cities, counties, states, and our country meet carbon reduction goals, and help Texas conserve water;
- Property owners lower their operating costs and add value to their property
- Tenants can access attractive financing to invest in technologies that lower their operating costs
- Banks are eager to participate adding to their customer base in a secure, reliable loan structure
Typical PACE Projects
Energy Savings Projects:
- Solar PV Installations
- Roof replacement, using new “Cool Roof” technologies
- Lighting – Building and Parking Lots
- Heating, Ventilation and Air Conditioning (HVAC) modification or replacement
- Insulation, caulking, weatherstripping or air sealing
- High efficiency windows and doors
- Automated energy control systems
Water Conservation Projects:
- Water use efficiency improvements
- Automated water control systems
- Rainwater collection systems
- Solar hot water
- Grey Water reclamation
Who is Eligible?
- All commercial and industrial existing buildings
- Buildings owned by non-profit organizations
- Private Schools
- Houses of Worship
NATiVE Solar has been involved with Texas’ adoption of Property Assessed Clean Energy since 2013, when the legislation was first introduced in Texas. We have participated in policy discussions, and have established an extensive network of relationships with project developers, lenders, energy auditors, and PACE administrators.
PACE is a natural fit for Build NATiVE & NATiVE Solar’s core philosophy of blending the benefits of deep energy retrofits that provide permanent energy savings, with onsite generation, storage, and advanced energy management integration. Our solar team can assist from concept to commissioning in every project that falls in the purview of the PACE program.
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