Reduce your home's water usage with efficient indoor plumbing, beautify your property with drought tolerant landscaping, and more.
RenewPACE: Innovative energy financing for homeowners
With RenewPACE financing, you can receive $0 down financing for energy efficiency, renewable energy, water-saving, and resiliency upgrades, repaid on your property taxes over the course of 5-30 years. With RenewPACE financing, the amount you can borrow is based on your home equity, and the interest rate is fixed, with no surprises. You can borrow up to 20% of your property value, and the balance may transfer to the new owner upon sale of the property, subject to lender approval.
Offered in cooperation with local governments, RenewPACE is simple and easy to use with superior customer support.
Generate your own electricity with a solar or wind system, heat your pool with a solar hot water heater, charge your electric vehicle, and more.
Upgrade to a new heating and cooling system, install new windows and doors, insulate your home, and more.
Prepare your home for severe weather with wind-resistant shingles, storm shutters, storm doors, and more.
The minimum amount that can be financed is $5,000. The maximum financing is a percentage of the value of your property, but may not exceed $250,000. See the PACE Program Handbook for your region for the exact determination of project eligibility.
As of May 2016, our interest rates are:
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Interest rates are subject to change. Please consult with your contractor to confirm the current interest rates.
As a property owner applying for PACE financing, you will agree to a levy of a ‘’contractual assessment’’ on your property. You will receive funds to pay the up-front costs of installing the approved improvements. The PACE assessment will appear as a new line item on your property tax bill.
There are no penalties for paying all or a portion of the PACE assessment early. Please see Question 18 below for additional information.
As part of the property record, the assessment will be disclosed at the time of property sale, and the remaining unpaid balance of the financed amount may be transferred to the new property owner. For more information, see the info sheet “PACE Assessments and Transferability” from Renew Financial.
In certain cases you may want to have a qualified auditor evaluate your home to determine the most cost-effective measures to reduce the home’s energy use, but it is not required. The costs of an energy audit can be financed with PACE financing.