Property Assessed Clean Energy (PACE) Program
Property Assessed Clean Energy, or PACE, financing allows property owners to fund energy efficiency, renewable energy, and wind mitigation projects with little or no up-front costs. With PACE, residential and commercial property owners living within a participating district can finance up to 100% of their project and pay it back over time as a voluntary non-ad valorem assessment on the annual property tax bill.
PACE financing can be used to make improvements to Residential, Commercial, or Multi-Family properties.
What are some examples of improvements that can be made with PACE financing?
PACE can be used to fund energy efficiency improvements, wind resistance measures and renewable electricity generation including, but not limited to, solar water heating systems; air sealing and ventilation systems; efficient doors and windows; insulation; “cool” roofs; water heaters; pool pumps; lighting fixtures and controls; storm shutters; wind resistant shingles; high impact windows and doors; photovoltaic systems; EV charging stations; and small wind turbines.
PACE financing only covers improvements which are permanent fixtures of the property. For example, PACE may pay for lighting fixtures, but not LED bulbs. PACE may pay for a more efficient HVAC system, but not more efficient appliances.
PACE was originally envisioned to overcome the barrier of an upfront cost on energy efficiency and energy generation improvements. In theory, the improvements financed have the ability to reduce energy and insurance costs enough to cover the cost of the improvement. To maximize this ability, consider the energy efficiency of the improvements you are making and how improvements could be combined to maximize energy savings. For example, if putting on a new roof for hurricane resiliency, choose a roof that is also highly energy efficient to reduce your cooling costs.
Who are the PACE providers approved by Palm Beach County?
- Alliance NRG. (855) 509-9922. www.alliancenrg.com.
- CounterPointe Energy Solutions. (855) 431-4400. www.counterpointesre.com
- Renovate America. (877) 747-4889. www.renovateamerica.com
- Renew Financial. (844) 736-3934. www.renewfinancial.com
- Ygrene Energy Fund Florida. (866) 634-1358. www.ygrene.com
How do I participate in PACE?
- Explore your financing options and determine if PACE is the right choice for you.
- Contact one of the participating PACE providers listed above. (The City of Boca Raton participates in the PACE program administered through Palm Beach County. For the most up to date information about providers, check the County's website.)
- Determine your eligibility and rates with the provider.
- Choose a contractor and determine the scope and costs of the improvements. Contractors must be registered with the PACE providers. For lists of approved contractors, refer to the PACE provider you selected.
- Secure financing through your PACE provider.
- Install the improvements to your property.
- Enjoy your new energy efficient, wind resistant, clean energy generating home!
- Begin repaying the financing through a non ad valorum assessment on your property tax bill.
How is PACE administered?
The Palm Beach County Board of County Commissioners adopted a PACE Ordinance at the April 4, 2017 BCC meeting and approved and adopted a series of resolutions and associated agreements with four separate providers on August 15, 2017.
Each provider has agreements with the Palm Beach County Tax Collector and Property Appraiser Offices and will provide access to PACE assessments.
The PACE Providers will operate in unincorporated Palm Beach County and those cities and towns that do not already have a program, including the City of Boca Raton. Information can be found on the Palm Beach County Website.
Where can I get more information about PACE?
For information about Palm Beach County's program, visit the County's website.
For more information about a specific provider, contact that provider directly at the contacts found above.
For general information on what PACE is and how it works nationally, check out the information available at PaceNation.
How do I know if solar energy is a possibility for me?
Project Sunroof by Google using mapping tools to assess the solar potential of individual roofs. Search your property.
For good information about solar, check out the resources available from Energy Sage.