IMAGINE A WORLD WHERE RENEWABLE AND ENERGY EFFICIENCY BUILDING UPGRADES ARE PROFITABLE FOR BUSINESSES AND AFFORDABLE FOR HOMEOWNERS
PACE CREATES THAT WORLD
Property Assessed Clean Energy (PACE) is an innovative financing tool which building owners and developers can use to upgrade their building's energy performance, install renewable energy systems and reduce resource consumption with no money down and with the financing repaid through their property's tax bill. In the USA, PACE financing capital primarily comes from private investment sources.
A WORLD-CHANGING GREEN INITIATIVE
PACE originated in the USA in 2008, and in 2009 was named "one of the top 20 world-changing ideas" by Scientific American magazine. PACE's popularity and growth has been exponential, and since 2008 it has financed over 326,000 home and commercial retrofits with nearly 12 billion dollars (over 26 billion economic impact), and created over 170,000 job years; all without one penny of taxpayer support (PACE Market Data).
PACE financing has established itself as a proven financial tool in the USA, dramatically accelerating the implementation of GHG-reducing measures in residential and commercial buildings. Key to the program's success is a recognition that it is both a financing tool and an ecosystem.
The tool is an innovative way of financing the measures with no money down and with the debt transferring to purchasers on resale making it uniquely attractive to homeowners and businesses.
The ecosystem harnesses the power of the profit motive in service of the public sustainability agenda and thus creates an army of "volunteer" PACE advocates and champions who help promote, educate and sell the client on the merits of upgrading their home and business facility. For details on what a best-practice-based PACE program looks like, read the Canadian Home Builders Association brief on PACE (Keys to Developing a Successful PACE Financing Program)
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PACE FOR EVERYONE
PACE BENEFITS
PACE upgrades can lower electric, gas and water utility bills, reduce resource use and consumption, and result in healthier more comfortable buildings with improved indoor air quality.
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PACE financing for new buildings will incentivize developers to upgrade their designs; potentially economically developing new buildings that are net-zero and even net-positive or regenerative.
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Municipalities and building owners benefit from increased property values, marketability, and economic activity.
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PACE can cover thousands of energy saving enhancements including solar panels and modules, insulation, roof shingles, high performance windows, high-efficiency furnaces, heat pumps, and geothermal exchange systems.
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