PACE, or Property Assessed Clean Energy Financing is private money made available to projects where energy efficient practices are being used. A remodeling loan can help homeowners make necessary fixes to increase property value, while also avoiding the stress of initial costs.
This program allows you, the homeowner, to finance the initial energy costs and then pay the cost back over an agreed upon period of time. Energy efficiency continues to grow in importance, resulting in more homeowners turning to the PACE program as a way to finance their eco-friendly initiatives. PACE loans differ from a traditional loan for remodeling in that each assessment is attached to the property instead of the individual.
Funds for remodeling are not always easy to come by, but PACE is here to help in just four simple steps:
- 100% project funding to you, the homeowner
- Homeowner authorizes disbursement of funds to contractor
- Homeowner then begins to pay back the assessment to their city or district
- The city then remits payment to PACE equity
PACE financing is beneficial for homeowners who want to increase the value of their home, lower monthly energy costs, and have a more liveable living space. In many ways, PACE financing isn’t a remodeling loan, but an energy project loan that in the long run will help entire towns, cities, and states come one step closer to a future where clean energy and sustainability are the norm!
Posted June 11, 2021
by Treeium Inc..