This video is the 101 intro used to help homeowners understand PACE Financing. Enjoy!
Let’s say you want to lower your power bills by improving your home, like insulation, solar panels, or more efficient furnace. City run PACE programs, are the way to finance these projects without taking out an equity loan. What PACE does is add the cost of the improvements to the property tax bill of your home over several years. PACE stands for Property Assessed Clean Energy.
PACE programs usually have small or no upfront costs making the home improvement easier to swallow. Paying for these particulequities particularly bill’s PACE program; it saves you more money in your power bill than the increase into their property tax bill.
In other words, it’s a day one savings nobody knows investment for your home. It’s super easy when you sell your home because the improvements go with property tax bill. Also PACE financing does not require credit check set aside your property tax bill I could say pretty good make it sure they could pay, so the financing is very secured.
How PACE program benefits society?
Pace program creates more jobs for contractors. With your job cannot be exported overseas. Since, the Financing is so secured. The city is able to risk money for it, meaning the program do not have even any other city program is on their budget.
Finally, PACE program self accelerate America to be a leader of green home technology.