February 18, 2020

Resilient and Sustainable Communities through Property Assessed Clean Energy Financing

Anne Peters and Deborah Brancato

Over the last two decades, Property Assessed Clean Energy (PACE) financing programs have been adopted in 36 states and the District of Columbia. These programs allow state and local governments to fund energy efficiency, renewable energy, disaster resiliency, and water conservation improvements on private property through the use of loans secured by special assessments on the real property. The programs can be structured to be financially self-supporting, secure investment vehicles that do not require continued infusions of funds by the state or local governments. Most currently active programs benefit only commercial properties, though both the states and the federal government are looking at ways to expand program coverage and residential applications..

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