PACE financing can help you afford solar on your home
Some homeowners might want to install a solar power system but they aren’t able to purchase it outright and impediments to financing – such as a lack of equity or past bad credit – keep the opportunity out of reach. PACE (Property Assessed Clean Energy) financing can help and it’s becoming more widely available. PACE financing just might be the answer you’re looking for to help you afford solar power for your home.
This program is a simple and effective way to finance energy efficiency, renewable energy, and water conservation upgrades to buildings. PACE can pay 100% of the project costs for new heating and cooling systems, lighting improvements, solar panels, water pumps, insulation, and more for almost any property – residential, commercial, nonprofit, and agricultural.
Financing comes in the form of a tax assessment levied by the local government taxing authority – funding is repaid through this assessment included on one’s annual property tax bill, spread out for up to 30 years. Benefits are that PACE doesn’t impact the homeowner’s credit rating and it survives a refinance or sale of the property. (Before signing up, it would be wise to consult with a financial or tax advisor to see how the PACE plan might affect your property.)
We have secured some financing partners in order to help inform and assist area home and business owners:
- ReNew Financial
- YGreen Works
- Renovate America
- Florida PACE Funding Agency
At this time, PACE loans are available in most parts of Sarasota, Manatee and Charlotte counties. If you have any questions, please don’t hesitate to give us a call!