PACE Program

  • January 19, 2015

PACE (Property Assessed Clean Energy) Program Financing

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What is PACE?

PACE is a financing program that partners with your city to help you finance a home solar energy system or other energy efficiency improvements. Through this partnership, you have the ability to finance a new solar system by receiving a loan from the city which you then pay back to them through your property tax bill.

PACE Explained in 90 Seconds

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The Benefits of PACE

  • No credit check required. The assessment is on the value of your property, not your personal financial performance.
  • There is NO upfront cash required.
  • When your property sells, the tax liability goes to the new buyer of the property.
  • PACE can be shared with tenants (for multi-family housing properties)
  • It’s widely supported in California and backed by cities.
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How Does PACE Work?

  1. The city partners with Sunworks to administer the program (or the city decides to do it themselves). The program is usually funded with municipal bonds.
  2. Sunworks performs an evaluation on your property for solar power or energy efficiency improvements and provides you with the assessment.
  3. Sunworks provides you a solar solution quote, identifies the best program available for your specific needs, and walks you through the application process.
  4. Sunworks manages your solar energy system project from beginning to end.
  5. Once solar is installed on your property, you will make payments on your property tax bill, amortized over 15-20 years, at a competitive rate of interest.
  6. If the home is ever sold, the solar system goes with it along with any tax liability.
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PACE Programs Available

There are a variety of programs available, for more information and guidance on selecting the right option, contact Sunworks today!

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