Replacing Your Air Conditioner with PACE

July 20, 2021
Replacing your HVAC with PACE financing

Air conditioning is considered an essential during the summer months, especially in states with scorching temperatures like California and Florida.  When life throws you a curveball and your AC stops working in the middle of summer, how are you stepping up to bat? 

The first step is to determine what kind of fix is right for your situation.   In most cases there are two options you can choose between. Putting on a band-aid with just a repair or replacing your air conditioner unit.

Signs Your Air Conditioning Unit is Broken 

Your physical discomfort is usually the first sign that things aren’t working right with your air conditioning. Here are a few other indicators that may warn you that your AC is about to or already has broken:

  • Higher energy bills
  • Running constantly
  • Unusual noises
  • Strange odors

If you are experiencing any of these issues, consider the following to help determine if you would best benefit from AC repair or replacement:

Age of Air Conditioner Unit

Air conditioners can last upwards of a decade if they are properly maintained. Have you kept up with regularly scheduled maintenance like replacing the air filters every 30 days?

Air Conditioner Unit Size 

Take the same approach with your AC unit as Goldilocks did finding a bed – it’s got to be just the right size! If an AC unit is too small it will be over worked and when too large it will turn on and off too often to maintain efficiency. An improperly sized AC unit that is over ten years old might be worth replacing with a suitably sized and efficient unit, providing summer energy savings for years to come. 

Number of Previous Repairs

It’s no secret that air conditioner repairs can be expensive. The cost of replacing the unit could be comparable if you’ve had to make numerous repairs in a short period. Taking the regular visits from your HVAC tech out of the equation with a more dependable air conditioner can give you peace of mind during the summer heatwaves.

Paying for Your AC Replacement

Despite the potential long term energy savings and dependable cooling from a new air conditioner unit, there are a lot of up front costs associated with an installation from a trusted HVAC contractor. So how do you pay for such a costly and often unplanned expense? At Renew Financial, we offer Property Assessed Clean Energy Financing (PACE) to homeowners located in eligible areas who are looking to make energy-efficient home improvements, without having to come out of pocket to pay cash.  

What is PACE Financing?

PACE stands for Property Assessed Clean Energy financing (PACE), an affordable alternative to traditional financing methods that helps homeowners obtain funds for energy-efficiency improvement projects. Unlike conventional financing methods, PACE is added to and paid through the property taxes, and it is secured by the property similar to how a home equity loan, a home equity line of credit, or mortgage would.  

Benefits of financing your air conditioner replacement with PACE include:

  • 100% financing with no money down
  • No min. FICO score required to qualify
  • Fixed competitive rates
  • Payment terms of up to 30-yrs
  • Fast approvals, generally within minutes

Want to learn more about financing your air conditioner replacement with PACE? Don’t sweat – our experts can answer any of your questions at 844.736.3934.

Begin the easy application process with Renew Financial today!

Important Disclosures

PACE financing is subject to approval. Underwriting requirements and restrictions apply. PACE financing is secured by a lien on the subject property and may be required to be repaid upon refinance or sale. Homeowners should perform due diligence before selecting a home improvement contractor. PACE financing is private financing that must be repaid in full. PACE financing is not a government subsidy. Homeowners are encouraged to use PACE financing responsibly.