PACE Solar Financing at a Glance
Short for Property Assessed Clean Energy, PACE is a unique type of solar financing that provides you with full PV system ownership – without requiring any upfront payments.
The process begins when you borrow money from an authorized PACE lender. However, this solar loan isn’t tied to personal guarantees. Instead, it’s linked to your home or business. And over the 20 to 30 years of your PACE agreement, you’ll have a slightly higher property tax bill.
However, you’ll never have to pay anything directly out-of-pocket with a PACE solar loan. Instead, you use your utility bill savings for the year to pay off your annual property tax bill. And because of how PACE loans are structured, you’ll always have money left over at the end of each yearly billing cycle.
In other words, PACE solar financing guarantees that you’ll consistently save money over the 20 to 30 years of your agreement.
And the advantages don’t stop there.