Finance
Property Assessed Clean Energy (PACE) financing is a mechanism that allows property owners to finance energy efficiency or renewable energy projects and repay the cost through an assessment on their property tax bill. With PACE, up-front costs for installing solar panels, battery storage, or efficiency upgrades can be covered by private capital or government funds, and the property owner pays it back typically over 10-20 years via their property taxes. This structure ties the repayment to the property (not the individual), meaning the balance can transfer to the new owner if the property is sold. PACE financing makes clean energy more accessible by removing the barrier of high initial costs and is authorized by local legislation in many jurisdictions for residential or commercial projects.