Property Assessed Clean Energy (PACE) Finance Resource Center

Property Assessed Clean Energy (PACE) is a finance tool used to implement energy-efficient improvements on private property. PACE provides access to affordable capital with no upfront costs to make energy efficiency improvements to residential and commercial properties. Extended-term financing allows for the property owner to pay back the loan over time, as well as the potential to increase property values and reduce energy costs.

PACE is a broad, flexible tool that can be applied to individual properties, as well as manufacturing campuses and business districts. The PACE financing model allows for property owners to access affordable capital to make energy efficiency upgrades to their properties by allowing the local municipality to place a special assessment on the property’s tax bill. The debt is associated with the property, not the property owner, and therefore is repaid by the property owner via the assessment on the tax bill, making the costly energy efficiency upgrades affordable in the long term.

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-Understanding Property Assessed Clean Energy (PACE)

Interested in learning about this flexible energy efficiency financing tool? This section contains resources on understanding the basics of PACE.

Property Assessed Clean Energy - A One-Page Overview Members only

PACENation provides a one-page overview of property assessed clean energy, explaining what is PACE, how it works, why it is popular, and how to get started using PACE.

-Resources

View all PACE Finance Resources

-Property Assessed Clean Energy (PACE)

CDFA-Bricker PACE Webinar Series: PACE 2.0 - The Next 10 Years

It has been approximately 10 years since the first PACE programs began. During this workshop, our speakers provided insights related to expanding PACE assessments to benefit buildings and properties for other non-energy related improvements such as indoor air quality, lead water pipe replacement, surface stormwater mitigation, and sewer overflows.

NYC Department of Finance's Notice of Adoption Relating to C-PACE Members only

Energy Finance | Green Finance | Property Assessed Clean Energy (PACE)

The New York City Department of Finance published a Notice of Adoption of a new rule broadening the scope of the Commercial Property Assessed Clean Energy (C-PACE) finance program. The amended rule, which goes into effect on November 7, 2021, has two key components: it will allow C-PACE financing to be used for the installation of energy efficiency improvements in new construction and it will expand loan eligibility to ground lease holders.

CDFA-Bricker PACE Webinar Series: Best Practices for Marketing & Selling PACE Across All Market Sectors

Economic Development | Property Assessed Clean Energy (PACE) | Webcasts

Now that the PACE marketplace has been “built,” how does it become mainstream so that all property owners know about PACE? This workshop explored proven methods for marketing and selling PACE to contractors, economic development agencies, commercial real estate professionals, and ultimately the property owner.

CDFA-Bricker PACE Webinar Series: Advancing Multi-Family Housing & Renewable Energy Goals with PACE

Energy Finance | Housing Finance | Property Assessed Clean Energy (PACE) | Webcasts

Certain property and project types have not taken full advantage of PACE, however, during this workshop, we explored what is being done to advance the goals in these market areas.

CDFA // BNY Mellon Development Finance Webcast Series: Preserving Local Economies with Energy & Water Finance

During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, presenters discussed how energy and water finance programs can be positioned to meet community infrastructure needs and support efficient resource use while also stabilizing local economies in the face of climate, health, and economic-related crises.

View more PACE Resources

-PACE Program Analysis

CDFA-Bricker PACE Webinar Series: How PACE Gets Utilized Across All Market Segments

Development Finance Toolbox | Energy Finance | Property Assessed Clean Energy (PACE)

Each market segment has its own view of why PACE is valuable and this workshop provided insights and details into each.

CDFA-Bricker PACE Webinar Series: Retroactive PACE

Development Finance Toolbox | Energy Finance | Property Assessed Clean Energy (PACE)

During this installment of the 2021 CDFA-Bricker PACE Webinar Series: Retroactive PACE, we explored the in-depth consideration for making Retroactive PACE a reality for an eligible property owner.

CDFA-Bricker PACE Webinar Series: PACE Program Capitalization

Development Finance Toolbox | Energy Finance | Property Assessed Clean Energy (PACE)

This is the fifth webinar of the 2020 CDFA-Bricker PACE Webinar Series: PACE Program Capitalization. Speakers included: Colin Kalvas, Associate Attorney, Bricker & Eckler LLP; Lain Gutierrez, CEO, CleanFund; Michael Linder, Loan Officer, Saint Paul Port Authority; Andrew Meyer, Senior Vice President, Petros PACE Finance; and Paul Scharfenberger, Executive Director, Colorado Clean Energy Fund.

CDFA-Bricker PACE Webinar Series: Policy and the Future of PACE

Development Finance Toolbox | Energy Finance | Property Assessed Clean Energy (PACE)

This is the fourth webinar of the 2020 CDFA-Bricker PACE Webinar Series: Policy and the Future of PACE. Speakers included: Jason Tiemeier, Associate, Bricker & Eckler LLP; Clifton Kellogg, Executive Director, C-PACE Alliance; Elyssa Rothe, Director of Policy and Program Development, Greenworks Lending; and Teresa Snyder PhD, Vice President Strategic Growth & Development, Ebee Management Group.

CDFA–Bricker PACE Webinar Series: Focusing on Sustainability Using PACE

Development Finance Toolbox | Energy Finance | Property Assessed Clean Energy (PACE)

This is the third webinar of the 2020 CDFA-Bricker PACE Webinar Series: Focusing on Sustainability Using PACE. Speakers included: Brooke A. Mangiarelli with Bricker & Eckler LLP, Eric Alini with Counterpointe Real Estate Solutions, Mayor Ben Kessler of Bexley, Ohio, Steve Melink with Melink Corporation, and Maryrose Myrtetus with Philadelphia Energy Authority.

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-PACE Bonds

Introduction to C-PACE in New York Members only

Energy Finance | Property Assessed Clean Energy (PACE)

Commercial Property Assessed Clean Energy (C-PACE) provides long-term, low-cost financing for energy efficiency improvements and renewable energy projects for commercial buildings. Unlike traditional financing, repayment is secured through a benefit assessment lien that is subordinate to municipal taxes, but senior to all other liens. Financing automatically transfers to a new owner if the property is sold.

Mortgage Lender’s Guide to C-PACE: Lender Consent

Energy Finance | Green Finance | Property Assessed Clean Energy (PACE)

To document the C-PACE financing, most programs require mortgage holders to consent to the assessment because, like other property tax assessments, the claim for delinquent C-PACE payments is typically on par with normal property taxes.

CDFA – Bricker PACE Webinars: PACE 101: The Basics of PACE Financing

Development Finance Toolbox | Property Assessed Clean Energy (PACE) | Webcasts

This is the first webinar of the CDFA-Bricker PACE Webinar Series: PACE 101: The Basics of PACE Financing. Speakers included: Colin Kalvas with Bricker & Eckler, Colin Bishopp with PACENation, Dustin Reilich with Renovate America, and Andrew Zech with Greenworks Lending.

Financing Low-Carbon Buildings and Energy Efficiency in the Green Bond Market Members only

Bond Finance | Energy Finance | Green Finance | Property Assessed Clean Energy (PACE)

There are substantial opportunities to leverage green bonds to finance low-carbon buildings and energy efficiency in the country. Issuance across the world shows that capital markets can be accessed to finance energy efficiency and buildings. Financing climate adaptation and resilience also presents opportunities.

C-PACE for Opportunity Zones Members only

Energy Finance | Green Finance | Opportunity Zones | Property Assessed Clean Energy (PACE)

How C-PACE can be used in Opportunity Zones featuring case studies of completed projects.

View more PACE Bond Resources

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-Programs Map

Search the map below to find Property Assessed Clean Energy (PACE) programs by state. This specialized search is part of CDFA's State Financing Program Directory, the only online resource cataloging the development finance programs offered by state governments. Click on a state to see a sample of programs available. Login with a CDFA Member account at the top of the page to view full results.

-Case Studies

CDFA-Bricker PACE Webinar Series: How PACE Gets Utilized Across All Market Segments

Each market segment has its own view of why PACE is valuable and this workshop provided insights and details into each.

CDFA-Bricker PACE Webinar Series: Retroactive PACE

During this installment of the 2021 CDFA-Bricker PACE Webinar Series: Retroactive PACE, we explored the in-depth consideration for making Retroactive PACE a reality for an eligible property owner.

CDFA Charter Schools Financing Initiative: Development Finance Strategies for Charter Schools

CDFA's first publication of the CDFA Charter Schools Financing Initiative series, funded with support from the National Alliance For Public Charter Schools. This paper demonstrates how charter schools can access development finance tools and public finance and provides real-world examples of how these tools have been successfully implemented.

CDFA-Bricker PACE Webinar Series: PACE Program Capitalization

CDFA-Bricker PACE Webinar Series: Policy and the Future of PACE

View more Case Studies

-Headlines

Oklahoma County Clean Energy Program Helps Bring More Apartments to Edmond
The Oklahoman | Jun. 28 | Energy Finance | Green Finance | Property Assessed Clean Energy (PACE)

New Clean Energy Financing Kick-Starts Stalled Developments
The Oklahoman | Jun. 27 | Energy Finance | Property Assessed Clean Energy (PACE)

Capital Bank Drives Clean Energy Initiatives with Montgomery County, MD Green Bank
StreetInsider.com | Mar. 7 | Energy Finance | Green Finance | Property Assessed Clean Energy (PACE)

Gulf Coast Authority Provides Financing Opportunities for Texas Investment
BIC Magazine | Mar. 7 | Bond Finance | Economic Development | Property Assessed Clean Energy (PACE)

View more Headlines

-Publications

Practitioner's Guide to Economic Development Finance

The Practitioner's Guide to Economic Development Finance 2nd Edition is the only comprehensive resource dedicated to building and utilizing the development finance toolbox. The Practitioner's Guide provides the insight and practical information needed to critically understand how economic development is financed and the tools, strategies and techniques used to build strong communities. From bonds, tax increment finance and special districts to tax credits, seed & venture capital, revolving loan funds and much more, this Guide outlines the financing tools required for succeeding in today's competitive economic development climate.

Unlocking Capital: A Handbook for Becoming a High Performing Development Finance Agency

Unlocking Capital: A Handbook for Becoming a High Performing Development Finance Agency (Handbook) serves as a companion to the Practitioner’s Guide to help illuminate the structures of development finance agencies (DFAs), essential conduits to access development finance tools. The Handbook provides an overview of DFAs and their myriad roles in various development efforts. Included in this discussion is a comprehensive look at over a dozen high-performing DFAs throughout the country. The Handbook is designed to be a starting point for local leaders to engage in the creation or acceleration of a DFA to build and utilize the development finance toolbox.

View more Publications

-Webcasts

CDFA-Bricker PACE Webinar Series: PACE 2.0 - The Next 10 Years

Economic Development | Energy Finance | Property Assessed Clean Energy (PACE) | Webcasts

CDFA-Bricker PACE Webinar Series: Best Practices for Marketing & Selling PACE Across All Market Sectors

Economic Development | Property Assessed Clean Energy (PACE) | Webcasts

CDFA-Bricker PACE Webinar Series: Advancing Multi-Family Housing & Renewable Energy Goals with PACE

Energy Finance | Housing Finance | Property Assessed Clean Energy (PACE) | Webcasts

Certain property and project types have not taken full advantage of PACE, however, during this workshop, we explored what is being done to advance the goals in these market areas.

CDFA – Bricker PACE Webinars: C-PACE Program Design: How Statutes, Programs, and Markets Come Together

Development Finance Toolbox | Property Assessed Clean Energy (PACE) | Webcasts

This is the third webinar of the CDFA-Bricker PACE Webinar Series: C-PACE Program Design: How Statutes, Programs, and Markets Come Together moderated by Chris Jones from Bricker & Eckler LLP. Speakers included: Clifton Kellogg with C-PACE Alliance, Josh Smith with Petros PACE Finance, LLC, Michael Yaki with CleanFund Commercial PACE Capital, Inc.

CDFA – Bricker PACE Webinars: C-PACE Transactions from Start to Finish

Development Finance Toolbox | Property Assessed Clean Energy (PACE) | Webcasts

This is the second webinar of the CDFA-Bricker PACE Webinar Series: C-PACE Transactions from Start to Finish. Speakers included: Caleb Bell with Bricker & Eckler, Jeremy Druhot with Columbus-Franklin County Finance Authority, Josh Hertzer with Ohio PACE, and Andrew Meyer with Twain Financial Partners.

View more Webcasts