PACE Financing
| Program Type | Loan Program |
|---|---|
| Technologies | Specific technologies are not identified |
| Amount | Not specified |
| Required Documentation | Application and compliance with program regulations |
| Official Web Site | http://green.dc.gov/green/cwp/view,a,1244,q,463655.asp |
The Property Assessed Clean Energy program, PACE, allows homeowners to borrow money from their municipal financing district and pay it back over 10 to 20 years in their property tax bills. The D.C. program would allow applicants to borrow money from the city to pay for energy improvements, which could include anything from new appliances and window retrofits to a small solar or wind generation system.
In April, 2010, the DC mayor and city council approved the PACE program and set aside $250 million for energy improvement loans to homeowners. The argument for creating the program came from the revelation that 70 percent of the city’s energy consumption and 75 percent of its carbon emissions come from buildings. The program does not go online until early 2011, when more information, guidelines and rules for the program will be available.
