PACE Legislation Moves Through the AZ Legislature
February 13, 2012
PACE — Property Assessed Clean Energy — financing is a tool that allows property owners to finance energy efficiency retrofits and renewable energy projects in existing commercial buildings. Basically, the program allows property owners within the designated district to borrow the upfront costs of the energy retrofits from the local government in exchange for the energy savings in the future. Repayment is by the property owner through the tax bill with interest added. In some communities, private entities have provided the financing.
Legislation to move this forward in AZ is pending in the state legislature.
Details about the program can be found here: http://pacenow.org/blog/
Details about the progress of this legislation and a tool kit for how to support it is here: http://votesolar.org/city-initiatives/solar-municipal-property-tax-financing/pacetoolkit/