About

Advocacy

Events

Membership

Sponsor

Education

Newsletters

Resources

Technical Assistance

×

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.


Want regular updates on PACE? Subscribe to CDFA's Energy & Water Finance Update newsletter.

Subscribe

-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.

Legal, Policy & Regulatory ConsiderationsMembers only Login
In order for PACE programs to be successful, there are a complex set of legal requirements and financial guidelines that must be taken into consideration. These policies allow the tool to function as well as bring about financial viability for the properties involved. During this session, Caleb Bell will outline the legal and policy necessities that must be met for successful implementation of PACE. 
Understanding PACEMembers only Login
David Gabrielson will explain the basic concepts of PACE and how it is beneficial for the energy industry.
PACE Financing OptionsMembers only Login
David Rogers explores the many starting funds that can be used for capitalization options for the initial investments into a PACE district, including bonds, grants, loans and more. David also focuses on the process of issuing PACE bonds.
PACE Players and Their Roles
Andrew Meyer from Twain Financial Partners presents on PACE Players in PACE deals and their roles.
Property Assessed Clean Energy - A One-Page OverviewMembers only Login
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 Program Efficiency - Managing An Effective PACE Program
This is the second webinar of the 2020 CDFA-Bricker PACE Webinar Series: PACE Program Efficiency - Managing An Effective PACE Program. Speakers included: Chris Jones with Bricker & Eckler LLP, Josh Campbell with Missouri Energy Initiative, Jeremy Druhot with Columbus-Franklin County Finance Authority, Colin Kalvas with Bricker & Eckler LLP, Jennifer Kuzma with Northeast Ohio Advanced Energy District, Jason Stringer with Slipstream / PACE Wisconsin, and Jason Tiemeier with Bricker & Eckler LLP.
CDFA–Bricker PACE Webinar Series: PACE 101 - The Basics of PACE Financing
This is the first webinar of the 2020 CDFA-Bricker PACE Webinar Series: PACE 101 - The Basics of PACE Financing. Speakers included: Caleb Bell with Bricker & Eckler, Norma Horwitz with Northeast Ohio Public Energy Council, John Costlow with Sustainable Energy Fund, and Bali Kumar, Lean & Green Michigan, LLC .
COVID-19 Rebirth Using Proven Tools
This white paper looks at how 5 successful programs can be used to finance the recovery from COVID-19. The 5 programs are C-PACE and R-PACE, State Historic Tax Credits, State Opportunity Zones Programs, State New Markets Tax Credits, and Solar and Energy Tax Credits (ITCs).
Introduction to C-PACE in New YorkMembers only Login
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.
View more PACE Resources

-PACE Program Analysis

CDFA–Bricker PACE Webinar Series: PACE Program Efficiency - Managing An Effective PACE Program
This is the second webinar of the 2020 CDFA-Bricker PACE Webinar Series: PACE Program Efficiency - Managing An Effective PACE Program. Speakers included: Chris Jones with Bricker & Eckler LLP, Josh Campbell with Missouri Energy Initiative, Jeremy Druhot with Columbus-Franklin County Finance Authority, Colin Kalvas with Bricker & Eckler LLP, Jennifer Kuzma with Northeast Ohio Advanced Energy District, Jason Stringer with Slipstream / PACE Wisconsin, and Jason Tiemeier with Bricker & Eckler LLP.
CDFA–Bricker PACE Webinar Series: PACE 101 - The Basics of PACE Financing
This is the first webinar of the 2020 CDFA-Bricker PACE Webinar Series: PACE 101 - The Basics of PACE Financing. Speakers included: Caleb Bell with Bricker & Eckler, Norma Horwitz with Northeast Ohio Public Energy Council, John Costlow with Sustainable Energy Fund, and Bali Kumar, Lean & Green Michigan, LLC .
COVID-19 Rebirth Using Proven Tools
This white paper looks at how 5 successful programs can be used to finance the recovery from COVID-19. The 5 programs are C-PACE and R-PACE, State Historic Tax Credits, State Opportunity Zones Programs, State New Markets Tax Credits, and Solar and Energy Tax Credits (ITCs).
Introduction to C-PACE in New YorkMembers only Login
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.
View More Programs

-PACE Bonds

Introduction to C-PACE in New YorkMembers only Login
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
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
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 MarketMembers only Login
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 ZonesMembers only Login
How C-PACE can be used in Opportunity Zones featuring case studies of completed projects.
View more PACE Bond Resources
Looking for the Energy Finance Resource Center? Click Here!

-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: PACE Program Efficiency - Managing An Effective PACE Program
This is the second webinar of the 2020 CDFA-Bricker PACE Webinar Series: PACE Program Efficiency - Managing An Effective PACE Program. Speakers included: Chris Jones with Bricker & Eckler LLP, Josh Campbell with Missouri Energy Initiative, Jeremy Druhot with Columbus-Franklin County Finance Authority, Colin Kalvas with Bricker & Eckler LLP, Jennifer Kuzma with Northeast Ohio Advanced Energy District, Jason Stringer with Slipstream / PACE Wisconsin, and Jason Tiemeier with Bricker & Eckler LLP.
CDFA–Bricker PACE Webinar Series: PACE 101 - The Basics of PACE Financing
This is the first webinar of the 2020 CDFA-Bricker PACE Webinar Series: PACE 101 - The Basics of PACE Financing. Speakers included: Caleb Bell with Bricker & Eckler, Norma Horwitz with Northeast Ohio Public Energy Council, John Costlow with Sustainable Energy Fund, and Bali Kumar, Lean & Green Michigan, LLC .
Introduction to C-PACE in New YorkMembers only Login
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.
CDFA – Bricker PACE Webinars: New Construction C-PACE Projects
This is the fourth and final webinar of the CDFA-Bricker PACE Webinar Series: New Construction C-PACE Projects. Speakers included: Ethan Elser Sr with PACE Equity, Abby Johnson with Abacus Property Solutions, and Charlene Heydinger with Texas PACE AuthorityOhio PACE and the webinar was moderated by Chris Jones from Bricker & Eckler LLP.
Incorporating PACE Into Complex Projects - Rachel Davis, Caleb Bell, Jerry Brunswick, Frances Kern Mennone, Scott RingleinMembers only Login
Rachel Davis, Caleb Bell, Jerry Brunswick, Frances Kern Mennone, and Scott Ringlein present Incorporationg PACE Into Complex Projects.
View more Case Studies

-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

-Training Courses

CDFA Virtual Summer School
August 3-13, 2020
Daily: 12:00 PM - 5:00 PM Eastern
CDFA Virtual Summer School is a two-week-long series of courses presented by the CDFA Training Institute. These courses qualify for the CDFA Training Institute's Development Finance Certified Professional (DFCP) Program. Participants may register for up to four courses during CDFA Virtual Summer School. Complete three courses, and you will have fulfilled half of the requirements for the DFCP Program.
Register
View All Courses

-Upcoming Events

CDFA-Bricker PACE Webinar Series: Focusing on Sustainability Using PACE
Tuesday, July 14, 2020
11:00 AM - 1:00 PM Eastern
This webinar will take a look at the use of PACE in the context of green and sustainability goals and metrics. How will PACE fit into a community’s effort to drive a more sustainable economy while pushing economic development goals and objectives? How can PACE be a driver of green principles and strategies to make a community more environmentally friendly? Join industry leaders for a discussion that answers these questions and more.
Register
CDFA Virtual Summer School
August 3-13, 2020
Daily: 12:00 PM - 5:00 PM Eastern
CDFA Virtual Summer School is a two-week-long series of courses presented by the CDFA Training Institute. These courses qualify for the CDFA Training Institute's Development Finance Certified Professional (DFCP) Program. Participants may register for up to four courses during CDFA Virtual Summer School. Complete three courses, and you will have fulfilled half of the requirements for the DFCP Program.
Register
CDFA-Bricker PACE Webinar Series: Policy and the Future of PACE
Tuesday, August 25, 2020
11:00 AM - 1:00 PM Eastern
This webinar will examine the next decade of PACE with a forward-looking view of how PACE will continue to evolve nationwide. PACE experts will explore ways in which the industry can expand PACE use to places that have yet to take advantage of this modern development finance tool. Learn how to tackle public policy hurdles and how to educate community leaders on the pros of PACE while ensuring accountability, transparency, and program effectiveness.
Register
CDFA-Bricker PACE Webinar Series: PACE Program Capitalization
Tuesday, September 22, 2020
11:00 AM - 1:00 PM Eastern
PACE program financing can be provided through private third parties, public bonds, or a combination of both, and within those options, there are many creative approaches being implemented across the nation. In 2017, The Kresge Foundation made a $3 million program-related investment into the St. Paul Port Authority’s "Trillion BTU" and "MinnPACE" loan programs. This was a first of its kind PRI to help the community on-board PACE. This webinar will explore this and other creative methods that communities can utilize to capitalize their PACE program.
Register
View more Upcoming Events

-Webcasts

CDFA – Bricker PACE Webinars: C-PACE Program Design: How Statutes, Programs, and Markets Come Together
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
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.
CDFA – Bricker PACE Webinars: PACE 101: The Basics of PACE Financing
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.
CDFA // BNY Mellon Webcast Series: Picking Up the PACE State by StateMembers only Login
During this installment of the CDFA // BNY Mellon Webcast Series, Caleb Bell with Bricker & Eckler LLP and David Gabrielson with PACENation discussed the best practices in crafting PACE enabling legislation as well as case studies of some of the most effective legislation to date.
Yale CEFF & CDFA Energy Finance Webinar: Accessing Creative Revenue Sources for Clean EnergyMembers only Login
The second installment of the Yale CEFF & CDFA Energy Finance Webinar Series focused on innovative state and local programs that successfully catalyzed clean energy. Speakers discussed the role of purchasing power agreements, PACE, and energy efficiency upgrades in energy projects.
View more Webcasts

CDFA National Sponsors

  • Baker Tilly Virchow Krause
  • BNY Mellon
  • Bricker & Eckler LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Fifth Third Bank
  • Frost Brown Todd, LLC
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McCarter & English, LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • SB Friedman Development Advisors
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
Become a Sponsor