The interest that you pay on your PACE assessment may be tax deductible. According to the IRS, it’s similar to home mortgage interest.
If you’re considering a solar-related home improvement project, it may be eligible for income tax incentives as well — up to 30% of the project cost through the 2019 tax year.
Any rebates or incentives you receive can be used to pay down the PACE assessment balance as a prepayment.
Renew Financial is not a tax advisor and does not provide tax advice. For more information on the potential tax savings or incentives of financing with PACE, please consult your tax advisor.