Property Assessed Clean Energy (PACE) Financing
Property Assessed Clean Energy (PACE) financing is an innovative program to reduce the upfront costs of renewable energy, energy efficiency and seismic improvement projects. PACE programs allow property owners to spread the cost of a project over many years as part of the owner's annual property tax payments. As a result, renewable energy, energy efficiency and water conserving projects become more affordable for property owners interested in saving energy and reducing utility bills.
Five PACE administrators are currently authorized in the City for both residential or commercial projects: California FIRST, Open PACE (which includes California First and Alliance NRG), Figtree, HERO, and Ygrene.
|Program||Minimum Financing (residential)||Energy/EV Charging, Water Efficiency/Landscaping Projects||Seismic Retrofit Projects|
|California First (Part of Open PACE)||$5,000||Yes||Yes (only for multi-family units)|
|Alliance NRG (Part of Open PACE)||$2,500||Yes||Yes|