It is part of our mission to serve as a trusted source of information on PACE. Our goal is to keep track of all PACE programs in the U.S. and provide most up-to-date information and project documents. Below, is a list of all PACE programs by state.
Arkansas Advanced Energy Equity Program (A2E2)
The City of Fayetteville’s Energy Improvement District PACE board voted unanimously in September, 2014 to engage A2E2 to administer the “Arkansas Advanced Energy Equity” program. Energy Equity Funding LLC and the Arkansas Advanced Energy Association partnered to design the program and jointly administer under the rubric “A2E2.” A2E2 closed its first PACE project in the city of Fayetteville in 2015.
To contact the Arkansas Advanced Energy Foundation, click here.
California has enacted PACE enabling legislation and there are a number of operational PACE programs and others in development.
The CaliforniaFIRST Program is a Property Assessed Clean Energy (PACE) financing program for residential and commercial properties. Administered by Renewable Funding, a national clean energy finance company, CaliforniaFIRST allows property owners to finance the installation of energy and water improvements on homes or businesses through the issuance of a municipal bond, which can then be paid back as a line item on their property tax bill. CaliforniaFIRST financing doesn’t rely on a credit score and does not require any money down, opening the program to a wide range of Californians.
The CaliforniaFIRST program is a program of the California Statewide Communities Development Authority (CSCDA), a joint powers authority co-sponsored by the California State Association of Counties and the League of California Cities. For more information for property owners, click here. For basic program terms, click here.
Click here to see the list of participating communities.
Figtree PACE Financing
Figtree PACE provides 100% financing for HVAC, Roofing, Solar, Windows, Lighting, and other energy efficiency and water conservation upgrades for commercial properties. The financing is no money down, fixed low interest rate, and long term up to 20 years. Qualifying for the financing is based on the property not business credit.
All commercial property types are eligible including office, industrial, retail, hotel, agriculture, and multi-family residential. The minimum allowable project size is $5,000 with no maximum. Eligible improvements include solar, HVAC, boilers & chillers, lighting, building controls, windows, cool roofing, water-efficiency plumbing, and hundreds of other improvement types.
There is a list of municipalities eligible for commercial financing.
Contact Information: Website: http://www.figtreecompany.com/
Green Finance San Francisco
GreenFinanceSF – Commercial officially launched on October 13, 2011 using the “open market” PACE model in which property owners negotiate project financing, including the interest rate and repayment term, with qualified project lenders willing to fund their project. When a project is approved, the City sells a bond to the project lender, and the proceeds from the sale fund the project. A special tax is then levied on the property, which is collected through the property tax bill and paid back to the project lender. Other key features of PACE are that it provides for the option of longer amortizations than typical commercial loans, and the payment obligation can run with the property, not the owner. The Program will assist in facilitating introductions between interested owners and qualified lenders.
“GreenFinanceSF-Commercial is the next big step forward in San Francisco’s efforts to dramatically reduce energy use and carbon emissions,” said San Francisco Mayor Edwin Lee. “We are excited about the potential to unlock an enormous amount of private investment – from a wide range of sources – and create thousands of local construction jobs. As of today, we are open for business.” “This program will save property owners money, add property value, and put people to work” said Supervisor Eric Mar, who co-sponsored the legislation allowing for the creation of PACE programs in San Francisco.
Green Finance Program Documents: GFSF Two Page Program Overview 11-14-11, GFSF Program Handbook 11-17-11, GFSF Request for Applications 11-16-11, GFSF Initial Application Form 11-16-11, GFSF Form of Lender Consent (non-residential), GFSF Form Property Owner Unanimous Approval (non-residential), GFSF Fiscal Agent Agreement, GFSF Form Bond Purchase Agreement. Website: https://commercial-pace.energyupgradeca.org/county/san_francisco/overview
Ygrene CV Upgrade, managed and funded by Ygrene, provides 100% financing to commercial and residential property owners for energy efficiency, renewable energy, and water conservation improvements. Financing is repayable over the long term through your property tax bill. Contact information: http://ygrene.us/ca/cv_upgrade/
Sacramento is becoming a hub of clean technology and economic growth. Ygrene provides financing to residential and commercial property owners for renewable energy and energy efficiency upgrades. Financing is repayable over the long term via property taxes, making projects profitable – an innovative approach that unlocks massive job creation, economic stimulus and environmental impact potential. It’s easy to participate for contractors and building owners alike, and the program’s web tools lay out the process so all stakeholders know where they stand. Contact Information: http://www.YgreneWorks.com
Clean Energy Chula Vista, managed and funded by Ygrene, provides 100% financing to commercial and residential property owners for energy efficiency, renewable energy, and water conservation improvements. Financing is repayable over the long term through your property tax bill. Contact information: http://www.YgreneWorks.com
Residential HERO PACE Program
Commercial HERO PACE program - Samas Capital
WRCOG Commercial HERO Program
- HERO is a financing plan that specializes in funding Commercial energy and water efficiency products as well as renewable energy systems.
- HERO offers up to 20 years financing at fixed rates.
- HERO creates a special tax assessment on the property.
- HERO eliminates the barriers of high upfront costs.
Contact information: http://wrcog.herocommercial.com/
Money for Property Owner Water and Energy Efficiency Retrofitting (mPOWER) provides a no money down, 6% fixed-rate financing for residential, commercial, industrial, agricultural and multifamily property owners who want to install energy efficiency, water conservation or renewable energy retrofits. The amount financed must be at least $2,500 and has repayment periods of 5, 10, 15 or 20 years, based on the life of the improvement.
The program was launched in 2010 and is open to the cities of Folsom, Granite Bay, Roseville, Rocklin, Auburn, Lincoln, Loomis, Newcastle, Penryn, Colfax and all other unincorporated areas of Placer County. mPOWER works in partnership with all of the County and City utility providers to help customers take advantage of available rebates and incentives. mPOWER has a long list of eligible energy and water efficiency improvements, many of which qualify for utility company rebates. However, since there’s no one-size-fits-all category, a customized system may also qualify.
mPOWER prides itself on exceptional customer service and employs specialists that have combined experience of 40+ years in building planning and construction. They are available to property owners to answer questions and offer experienced guidance in the selection of retrofit projects.
mPOWERhas funded over 9 million dollars in projects, representing 282 residential properties, 9 nonresidential properties.
mPower Program Documents:Application, Contractor Bid, Eligible Improvements, Lender Information and Acknowledgement, Fee Schedule , Assessment Contract, Assignment of Rights to Receive Financing, Request for Disbursement. Contact Information: Website: www.mpowerplacer.org Phone: 1.877.396.7693
Los Angeles County Commercial PACE Program
Property Assessed Clean Energy (PACE) financing is a new option available to Los Angeles County commercial, industrial and multi-family property owners to fund improvements that are proven to save water or energy or to create renewable energy onsite. Unlike a traditional loan, the financing is paid back twice a year through an assessment on the property taxes. In Los Angeles County, the property owner can choose their own PACE project financier and negotiate their own rate and terms. Because PACE investors are fully secured through a voluntary contractual assessment, PACE investors have the security to offer financing at lower rates and over longer periods of time than has been possible until now. Property owners benefit from no upfront out-of-pocket costs, as PACE financing allows projects to be amortized over a longer period of time so they can be “cash-flow positive” from day one.
This program is also part of Energy Upgrade California, a state-wide initiative to reduce energy consumption in existing buildings.
Program Documents: Fact Sheet, Technical Fact Sheet, Eligible Cities. Contact Information: Website: https://commercial-pace.energyupgradeca.org/county/los_angeles/commercial_about
PACE Funding™ is full service financing provider for property owners including quoting, application processing and funding. PACE Funding operates through a statewide municipal platform which allows up to 15% of a property’s value to be financed for energy efficiency, renewable energy, seismic improvements and water conservation upgrades. The financing creates an assessment lien on the property and is repaid as semi-annual installments on the property tax bill. We are the first PACE program to partner with a US federally chartered, consumer lending bank with thousands of trained contractors throughout the country. Our program offers rigorous consumer and regulatory safeguards as well as a world class customer service call center. PACE Funding provides 100% financing for solar, HVAC, roofing, windows and door, lighting, and numerous other energy efficiency equipment, seismic improvements and water conservation upgrades primarily for residential properties. Our financing is no money down, fixed low interest rate for terms of up to 25 years.
Sonoma County Energy Independence Program
On March 25, 2009, Sonoma County’s Board of Supervisors authorized and launched its PACE program, called the Sonoma County Energy Independence Program (SCEIP). SCEIP was the first countywide municipal program of its kind in the State of California to provide PACE financing, and currently remains one of the largest programs in the nation providing both residential and commercial PACE financing.
Sonoma County and each of its incorporated cities and towns (collectively the “Cities”) have established a goal to reduce their greenhouse gas emissions 25 percent below 1990 levels by 2015. The County, the Cities, the Sonoma County Water Agency, the Sonoma County Transportation Authority and the Sonoma County Agricultural Preservation and Open Space District are members of the Regional Climate Protection Coordination Plan (“RCPCP”) with the goal of coordinating efforts to reduce countywide GHG emissions. In 2008, these collaborating agencies viewed the opportunity provided by California state-enabling legislation to form a PACE assessment program as a significant tool in helping Sonoma County and its cities reach their aggressive GHG emissions reduction targets.
Joined by every incorporated city and town, SCEIP covers all areas in the geographic County of Sonoma. Since program launch, SCEIP has financed over $70 million in projects, representing over 2100 residential properties, 60 non-residential properties and 3600 individual improvements. Because a majority of the improvements have been performed by local contractors, most of the $65 million in funding provided by the County has remained within the local community generating over 80 job-years of local labor.
SCEIP allows more than 90 eligible measures for energy efficiency, water conservation and renewable generation. Since program launch, SCEIP has financed over 9.9MW of photovoltaic solar generation, equating to a GHG reduction of 8,600 tons annually. An effort to quantify the energy savings and GHG reduction for financed energy efficiency and water conservation projects is currently underway.
Program Documents: Replication Guidance for Local Governments, SCEIP Resolution 5, SCEIP Resolution 4, Assessment Contract Single, Assessment Contract Multiple, Assessment Implementation Agreement Single, Assessment Implementation Agreement Multiple, Approval of SCEIP bond documents for the Sonoma Mountain Village Photovoltaic Project, County Board Resolution on PACE Interest Rate.
Denver PACE Program - in development
PACE program in Denver is currently in development.
Colorado ClimateSmart Loan Program – Inactive program
Boulder County was a pioneer in the development of PACE. However, the ClimateSmart Loan Program, the Boulder County PACE program, is no longer operational, a victim of the Federal Housing Finance Agency’s rule against PACE.
Commercial and institutional properties including non-profits, apartment buildings, small manufacturing facilities and multifamily, low-income and/or elderly housing complexes were all eligible for the commercial ClimateSmart Loan Program. Commercial property owners chose a set of energy efficiency and renewable energy measures and applied for a minimum $3,000 and up to a maximum of $210,000 loan to fund the improvement. Each property owner who received financing through the program was responsible for repaying the loan via a special assessment on the improved property.
The Commercial ClimateSmart loan program is currently not accepting applications. Projects funded in 2010 are in process.
Boulder County, in collaboration with Elevations Credit Union and the City and County of Denver, is offering low-cost energy loans for your energy efficiency and renewable energy upgrades. For more information, please click here.
Connecticut has enacted PACE enabling legislation and there is an active statewide commercial PACE program.
Connecticut Energy Finance and Investment Authority (CEFIA)
Connecticut’s approach to C-PACE is exciting because CEFIA plays a central role in developing statewide program standards and guidelines that municipalities will agree to follow when joining. CEFIA is also empowered by the legislation to provide financing for projects.
All properties located within the boundaries of a municipality that has adopted a resolution joining the C-PACE program. Currently the following municipalities have adopted the program: Beacon Falls, Bridgeport, Durham, Hartford, Middletown, Norwalk, Simsbury, Stamford, West Hartford, Westport, and Windham.
Program measures is designed to ensure that energy efficiency and renewable energy projects help property owners and local governments achieve their goals of saving costs, safeguarding the environment, and creating jobs. Please refer to the list of eligible improvements.
CEFIA has developed a list of pre-approved capital providers (building owners are also free to use their own capital provider). This list could be viewed here.
Connecticut PACE program is open for business, if you have any questions, please contact CEFIA.
Contact Information: Website: http://www.ctcleanenergy.com/
Florida has enacted PACE enabling legislation and at least two programs have launched, with others near launch or in development.
Clean Energy Green Corridor, Miami-Dade
Ygrene Energy Funds announcement with Carbon War Room last fall of a program centered initially in South Florida has led to the formation of the Clean Energy Green Corridor District. Initiated by the Town of Cutler Bay, the District to date includes Miami, South Miami, Pinecrest, Palmetto Bay, and Miami Shores, communities that total about 650,000 people. The Green Corridor District plans to offer both commercial and residential PACE financing, though only commercial projects will be permitted in the City of Miami.
Ygrene Energy Fund Florida, a subsidiary of the California based leader in PACE program development, will administer the program, using its turnkey approach that provides administration, financing, contracting, and a range of assurances and performance guarantees to participating governments. According to Ygrene’s John Wakefield, the implementation process has been launched with initial project finance and property improvements expected this fall for likely completion in early 2013. Ygrene reports that it has secured funding through Barclays and is working to develop potential funding from other lenders capable of warehousing assessments.
In Miami-Dade, Ygrene uses a comprehensive marketing strategy that involves broad outreach to local stakeholders through workshops, newsletters, and presentations. As John Wakefield informs us, in every clean energy district Ygrene establishes an Energy Center to showcase new equipment and technology, offer assistance and resources to local property owners, and undertake contractor recruitment, training and certification. Building on the experience of the Sonoma County Energy Independence program, Ygrene developed its direct advertising efforts consisting of media ads, direct mailing, and community events to better reach local property owners. Overall, Ygrene puts emphasis on creating localized programs at a District level.
As for energy audits, Green Corridor uses home evaluation software tool to prioritize improvements and calculate the SIR (savings to investment ratio). Water conservation and wind hazard abatement projects could be offered to Green Corridor participating municipalities that choose to include these measures when they join. Green Corridor will not require consent from existing mortgage lenders, relying on Florida’s enabling statute requirements for notice only.
Florida PACE Funding Agency Program
The Florida PACE Funding Agency (Agency) garnered plenty of attention when it received statewide judicial bond validation for up to $2 billion. Kissimmee and Flagler County are the original incorporators of the Agency to which other local governments may “subscribe” through a simple Interlocal agreement. Under authority established by Section 163.01, Florida Statutes, the Agency provides Florida municipalities a no risk, no cost, turn-key PACE solution.
Is a special purpose local government subject to Sunshine Law; Is governed by elected officials who understand what’s important to local governments; Is already judicially validated statewide to issue up $2 billion of bonds; Has $200 million of immediately available financing; Is able to immediately commence its turn-key PACE program upon signing of an Interlocal agreement with the Agency; Assures local governments that there is no cost or liability through its judicial validation; Is an open model allowing Counties to have multiple PACE Program providers for purposes of expanded program options for Property Owners and for price control; Provides financing for both residential and commercial property owners, and Complies with statutory lender notification and does not require lender consent.
Leidos (formerly SAIC Energy, Environment & Infrastructure LLC) was selected through competitive procurement to be the Agency’s Third Party Administrator. The Agency completed its first financing commitment of $200 million in March, 2014. The $200 million is immediately available to fund qualifying improvements in subscribed local governments. The Florida PACE Funding Agency has now subscribed the following Counties: Flagler, Nassau, Gadsden, Jefferson, Gulf, Walton and Clay; and Cities: Kissimmee and Tamarac.
The judgment of the Florida Circuit Court of Leon County on validation is binding on all parties in Florida, and it provides a judicial finality to the question of whether a local government has the authority to impose its PACE assessments. Judicial validation also ensures protection from all program liability to subscribing local governments.
The $2 billion funding target may be achieved if just five percent (5%) of 20-year-old residential and commercial buildings in the state participate in the program at an average improvement amount of $15,000. Validation of the Florida PACE Funding Agency’s program does not extend to the Green Corridor or Florida Green Energy Works programs, which will have to seek validation of their individual programs. The Agency offers PACE financing for qualifying energy efficiency, renewable generation and wind resistance improvements to both residential and commercial properties. The Agency will base its requirements on Florida law that does not require consent from existing mortgage lenders for projects that represent less than 20% of the property’s Just Market Value (Florida law does require consent for projects in excess of 20%). The Agency will follow Florida Statutes (s. 163.08) and provide a 30-day notice to existing lenders in order to accommodate adjustment of monthly property tax/insurance/escrow payments.
The Agency will encourage interested property owners to obtain an energy audit through authorized energy auditors, but an energy audit is not required. Each project is validated by the Third Party Administrator to ensure project costs and savings estimates are reasonable.
Contact Person: For more information, please contact Jonathan Schaefer, Program Manager with Leidos Engineering, Third Party Administrator for the Florida PACE Funding Agency via email: schaeferj@FloridaPACE.gov.
Contact Information: Website: http://www.floridapace.gov/
Green Energy Works Program
Florida Green Energy Works is administered by EcoCity Partners, L3C, a Florida low profit, limited liability corporation. The Towns of Lantana and Mangonia Park, both in Palm Beach County, recently joined to incorporate the Florida Green Finance Authority, the “separate legal entity” which any municipality or local government in Florida can join by interlocal agreement to scale the consortium. the program has launched and the website is accepting electronic applications in participating municipalities. Florida Green Energy Works is focused on commercial PACE. While the program is equipped to offer both residential and commercial financing, at this point, residential funding is not being offered, due to the uncertainty created by the FHFA.
The program uses the “owner-arranged/open market” funding model and requires commercial property owners to provide notice and receive consent for the PACE assessment from their existing mortgage lender. When consent is obtained for a project, any market-based financing could be obtained. In other words, property owners can use any lender/ funding source, which open market advocates believe will induce competition and ultimately result in a lower interest rates and closing costs. EcoCity Partners is working with property owners and providers of funding to match the need with supply. The program expects to conclude its bond validation process by the end of the year.
Wind hazard abatement and water efficiency measures are an integral component of the program that will be available for local governments joining Florida Green Energy Works Program. Erin Deady, a lawyer active in developing Florida Green Energy Works and working with Leon County on the FHFA federal litigation, identifies the significant amount of data showing the linkage between water and energy efficiency improvements as justification for using PACE.
Florida Green Energy Works requires an energy savings audit completed by a qualified energy auditor or a certified building energy rater. At a minimum, this audit will include the following information:
Recommendations for energy savings measures; Estimated energy savings and a priority ranking for each measure; Estimated renewable energy to be produced; Estimated greenhouse gas reductions; and Estimated cost savings resulting from the implementation of the recommendations and use of funds made available by the District. A web based platform will collect and make data related to projects’ energy savings and environmental impacts (carbon reductions) readily available to the public.
Contact Information: Mike Wallander Phone 818-527-6511 Email: Michael@ecocitypartners.com for more information. Website: http://www.floridagreenenergyworks.com/
St. Lucie County’s Commercial PACE Program
Solar Energy Loan Fund or SELF is a certified Community Development Financial Institution (CDFI) and a national award-winning non-profit, 501(c) (3) corporation. SELF administers St. Lucie County’s Commercial PACE program. To date, the County has completed all of the necessary approvals for the PACE program. SELF also partnered with the Florida Green Energy Works program to establish additional Commercial PACE programs in the state.
Leon County Commercial PACE program
Clean Energy Atlanta program
A PACE program in Atlanta, Georgia is being spearheaded by Ygrene Energy Fund. In October 2012, Invest Atlanta, the Economic Development Authority for the City of Atlanta, decided to go forward with Ygrene’s Clean Energy Atlanta program.
Clean Energy Atlanta, managed and funded by Ygrene, provides 100% financing to commercial property owners for renewable energy and energy efficiency improvements. Financing is repayable over the long term via property taxes, making projects affordable – an innovative tool that allows you to add value to your home or business with no upfront costs.
According to Ygrene, Clean Energy Atlanta can create 2,800 new jobs, generate $480 million in economic activity, and achieve tremendous reductions in carbon dioxide that contributes to global warming. Ygrene sets up a fully-funded, turnkey clean energy programs.
Any energy-saving or renewable energy-producing improvement that is permanently affixed to the property is eligible for funding through PACE. Eligible project groups include energy efficiency retrofits, water conservation measures, and renewable energy generation systems.
Contact Information: Website: http://ygrene.us/ga/atlanta
Hawaii has existing legal authority to set up PACE programs, but there is currently no program in development.
Illinois has enacted PACE enabling legislation and there is a PACE program in development in Chicago.
Louisiana has enacted PACE enabling legislation and there is a PACE program in development.
Ann Arbor’s PACE Program
Lean and Green Michigan
Michigan Lean & Green is a state-wide PACE program, structured to allow every municipality to join after holding a public hearing and passing a resolution of intent and adoption. To date, Lean & Green Michigan covers seven jurisdictions and is growing fast. Participating communities include:
Counties: Eaton, Genesee, Grand Traverse, Huron, Ingham, Macomb, Saginaw, Washtenaw, and Wayne.
Cities: Rochester Hills, Royal Oak, and Southfield.
Lean & Green is actively talking to municipalities and building owners across the state. The outreach efforts are systematic and driven by Lean & Green Michigan and supported by the Michigan Economic Development Corporation, The City of Southfield, a number of energy contractors, and ESCOs. Lean & Green staff has held a number of meetings with government officials, lenders, building owners, and energy contractors.
Lean & Green Michigan allows municipalities to create a PACE district at no cost, with no need for new government staff or lengthy RFP processes, with access to private capital — and to do all of this cooperatively with other counties, cities and townships, building the regional economy. To create a PACE district with Lean & Green Michigan, a municipality simply votes to join by passing a local ordinance. There’s no need to hire or train additional staff or go through lengthy RFP processes. What is more, Lean & Green Michigan can be tailored to incorporate the particular needs of each municipality.
Lean & Green is open to a wide range of property types: very large manufacturing companies, industrial companies, smaller companies, apartment complexes, downtown businesses, office building, and data centers.
The program is requiring lender consent. Lean & Green financing model is termed open-market or owner-arranged. Lean & Green with match property owners with financial institutions. The minimum size of the project is $10,000 and there is no maximum size yet.
There is no blanket audit requirement for participating properties, instead, the necessary audit will be determined on a case by case basis.
Michigan’s largest law firm and most experienced public finance counsel, Miller Canfield, serves as PACE counsel to municipalities that join Lean & Green Michigan™ with no charge to establish the PACE district. Legal fees, along with the cost of running Lean & Green Michigan™, are incorporated into the financing of each PACE project. By joining Lean & Green Michigan™, municipalities allow their constituent property owners to gain access to banks and other sources of private capital that are part of the Lean & Green team. Lean & Green Michigan™ represents the best kind of “shared services.” Counties, cities and townships give up nothing, but by working together they create one statewide set of efficient and flexible PACE rules that really work for business, create the kind of common market that larger companies with multiple facilities need, save money, and avoid duplication and a blizzard of conflicting rules from place to place.
Click here to view eligible projects.
Program Documents: Presentation on PACE, PACE Report, City of Southfield Proposed PACE Program. Contact Information: Andrew Levin, Levin Energy Partners Email: email@example.com Website: http://www.leanandgreenmi.com
Minnesota has enacted PACE enabling legislation and there are several PACE programs in place.
Minnesota Edina Emerald Energy Program
Minnesota PACE program
PACE of MN financing is available in any city or county across the state.
PACE financing is now available across the state of Minnesota, thanks to more than two years of work by Eutectics, the St. Paul Port Authority, the Minnesota Department of Commerce, Bremer Bank and others.
Through a streamlined process, any city or county can join PACE of MN through a Joint Powers Agreement with the St. Paul Port Authority. After the City Council or County Board approval of the Joint Powers Agreement, the St. Paul Port Authority will provide a turnkey service as the PACE Administrator.
Eutectics initiated this new PACE structure for Minnesota to remove most of the barriers to implementing PACE projects all across the state. With nearly one thousand hours invested in pro bono consulting services to build the statewide platform, we are delighted to be working with the St. Paul Port Authority to fund eligible energy efficiency and renewable energy projects for owners ranging from large industrial facilities to very small businesses – and every size in between.
PACE of MN is a financing tool that allows property owners to access competitive private financing through a partnership with local governments and the St. Paul Port Authority. Building owners who use PACE financing for their energy improvements pay back the financing through property taxes, as a voluntary special assessment.
Contact information: 612.353.5760 or Info@EutecticsLLC.com to get started on your PACE project today.
Southwest Regional Development Commission
PACE is a financing tool used to assist commercial and industrial businesses (including agri-business) with improvements that substantially increase energy efficiency. PACE allows businesses to make these fixture improvements without the up-front capital outlay. Costs for the improvements are paid back through a special assessment on their taxes. The increase in property taxes is offset by the decrease in energy costs so that the business sees no change in the bottom line.
The key points to note:
- Business must have an EMV (estimated market value) (taxable) of at least $50,000 to qualify
- Total loan amount is tied to property value (20% of the EMV). Note: This is a 2014 legislative change, up from the 10% previously offered (e.g. a property with an Estimated Market Value of $1,000,000 would qualify for $200,000 in loan dollars)
- Loan size ranges from $5,000-100,000 (no match requirement)
- Loan amount based on projected energy savings (determined by an energy audit)
- Must be a 1:1 savings ratio (meaning—the business sees no change in net operating costs or better yet—a reduction in operating costs!)
- Must be located in the Rural Minnesota Energy Board region (18 counties)
- 1.5% origination fee
- 4% minimum interest rate
This is a PILOT program with the potential to benefit business and industry in your area—feel free to SHARE the brochure. Contact information: please email or call Betsy Herding, the Economic Development Director of the Southwest Regional Development Commission at 507-836-1638.
Set the PACE St. Louis
Missouri Clean Energy District Program
Show Me PACE
New Hampshire has enacted C-PACE enabling legislation and there is a program in development.
Program in development
New Jersey has enacted PACE enabling legislation and there is a PACE program in development.
New Mexico has enacted PACE enabling legislation and there is a PACE program in development.
Energize New York Finance
Contact Information: Phone: (914) 302-7300 Website: http://energizeny.org/page/finance/
New York Long Island Green Homes
Greater Cincinnati Energy Alliance
Toledo-Lucas County Port Authority/BetterBuildings Challenge
Project financing: Completed 84 projects worth $18.0 million at an interest rate between 5 and 6 percent.
Types of projects financed: The program has funded a wide variety of buildings including commercial, municipal and not for profit. Many buildings may be experiencing issues with aging mechanicals, and PACE financing can be ideal as part of a capital stack in a deep retrofit. Properties that are fairly leveraged and already securitized are also candidates for PACE financing.
Jurisdictions covered: Started in Toledo. Ohio is working on legislation that would make it easier to govern larger geographical areas to the existing PACE district – instead of having each county set up its own district. Toledo is also providing guidance to other port authorities across Ohio.
Program structure: The program is administered by the Toledo-Lucas County Port Authority and was initially funded using grants under the American Reinvestment and Recovery Act (ARRA).
Financing model: The program follows a turnkey market, private placement pooling bond model and makes on-demand funding available in jurisdictions covered. The Port Authority created and maintains the NW Ohio Bond Fund and a revolving loan fund. The authority is able to aggregate projects using a combination of bond proceeds and its revolving loan fund. The authority financed over $30 million in energy efficiency projects, roughly $18 million of which were PACE projects.
Toledo-Lucas County Port Authority One Maritime Plaza Suite 701 Toledo, OH 43604-1866 Phone: 419.243.8251 Fax: 419.243.1835 eMail: firstname.lastname@example.org
Ohio Northeast Ohio Advanced Energy District
PACE enabling legislation was recently adopted in Utah, the efforts to put a PACE program in place are underway.
Utah Clean Energy
Utah passed commercial PACE enabling legislation in March of 2013. Utah Clean Energy, a local non-profit organization, was actively involved in the efforts to secure the passage of this legislation and designed a C-PACE Model Program for Utah. In cooperation with multiple Utah municipalities, the Utah Governor’s Office of Energy Development will administer a statewide C-PACE program in Utah based on this model, beginning in early 2015. Potential pilot projects are currently exploring the use of C-PACE financing.
If you have questions or a potential pilot project, please contact Meghan Dutton (meghan
Texas PACE Authority Program
Texas now has a live PACE program in Travis County, administered by the Texas PACE Authority. The Texas PACE Authority was created by Keeping PACE in Texas (KPT), a non-profit business association organized for the purpose of promoting Property Assessed Clean Energy (PACE) financing programs throughout the state of Texas.
To learn more and get started, please visit Texas PACE Authority’s webpage.
Wisconsin Milwaukee Energy Efficiency (ME2)
D.C. PACE Commercial
- Provide an exception financial return for the property owner
- Spur job creation and economic development in the District of Columbia
- Increase energy security for residents and businesses in the District
- Reduce greenhouse gas and other noxious emissions in the metropolitan region
DC PACE Commercial will accept financing applications from property owners beginning Fall, 2012. Project Documents: D.C. PACE Overview Brochure. Contact Information: Dave Good District Department of the Environment Phone: 202.645.4519 Email: email@example.com Website: http://www.dcpace.com/