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PACE Financing: What It Is and How It Benefits You

It’s never the wrong time of year to learn about how you can save money on your energy costs. One way to do this is through the California PACE (Property-Assessed Clean Energy) program. This program serves as a catalyst for financing renewable energy improvements as well as energy efficiency improvements on residential or private properties.

The PACE program, which authorized by state law as it is in California currently, enables state and local governments or other inter-jurisdictional authorities to supply the funds needed for the upfront cost of energy improvements on both residential and commercial properties. These funds can be paid back over time by the property owners. The program is designed to help promote energy efficiency, water conservation, and renewable energy projects.

How Does the PACE Program Benefit You?

As a private property owner in the state of California, the PACE program gives you the flexibility and resources to improve your home without the need to worry about the upfront costs of getting the job done correctly and quickly. You can obtain funding for most standard home energy upgrades and improvements through low-cost financing solutions from the state government. Some of the projects this program allows for include:

  • Installation of Solar Panels
  • Energy-Efficient Windows and Doors
  • Heating and Cooling Systems
  • Other Efficiency Efforts

The U.S. Department of Energy shares a number of other benefits for you to keep in mind when considering if and when you want to take advantage of the PACE program.

  • Allows for the secure financing of comprehensive projects over a longer period of time, making projects cash-flow positive.
  • Spreads your repayment options over many years and removes any requirement that debt be paid at home sale or property refinance.
  • Provides low interest rates due to the high security of loan repayments attached to property tax bills.
  • Helps private property owners deduct payments form their income tax liability.
  • Allows municipalities to encourage energy efficiency and renewable energy without putting general funds at risk.
  • Taps into large sources of private capital, like municipal bond markets.

For more energy-saving tips and exceptional HVAC services throughout San Ramon, CA and beyond, contact Comfy Heating & Air Conditioning Inc. today!

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