We’ve already seen what’s the UK Green Deal framework, how it works and it can help firms in UK to sell more. This time, let’s continue our Worldwide Energy Efficiency frameworks tour with a US one: “PACE”.
Property Assessed Clean Energy (PACE) is a way to finance energy efficiency and renewable energy upgrades to buildings that has emerged in the United States. PACE repayments appear as an additional line on a building’s property tax bill. The debt is attached to the property rather than the property owner and is repaid by the beneficiary or the building improvement.
The United Kingdom has set itself the target of reducing carbon emissions by 80% by 2050. Within this context, the UK will have 85% of its current housing stock in 2050. Emissions from buildings account for “43% of the UK’s total greenhouse gas emissions”.
Willing to fight these issues, the UK government has launched a scheme, called the Green Deal, with the aim of helping households increase the energy efficiency of their homes. “Under this scheme, 14 millions homes could be fitted with insulation and other energy-saving measures”. Thanks to this scheme, the UK Government is expecting to create 65,000 new jobs across the supply chain.