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.
There are 4 simple steps to every PACE programs:
PACE’s benefits are numerous. PACE creates no liability to the city’s funds, as it’s funded through municipal bonds. “It also enables states and local governments to design and implement such programs in their communities.” It helps to create jobs. Nevertheless, PACE had already experienced some hurdles. We’ll see one of its drawbacks in details very soon.
Here is a short video to understand the mechanics behind this framework.
Get to know more?
- delving into PACE framework with a WhiteHouse’s presentation
- the Energy Conservation Measures that are eligible
- where PACE is available in the US (and where it’s not)
- a more detailed financial description of it
You enjoyed this post, Follow me