PACE (Property Assessed Clean Energy) financing programs are expanding rapidly throughout the country. By the end of the year, 11 counties in California alone will have a PACE program. According to industry expert and Recurve founder Matt Golden, that means 60% of Californians will be living in a PACE district.

As a reminder, a PACE bond is a bond where the proceeds are lent to commercial and residential property owners to finance energy retrofits (efficiency measures and small renewable energy systems) and who then repay their loans over 20 years via an annual assessment on their property tax bill. PACE bonds can be issued by municipal financing districts or finance companies and the proceeds can be typically used to retrofit both commercial and residential properties.

The advantages of PACE programs include significant job creation, reduction in greenhouse gas emissions, lower energy bills and substantially reduced upfront cost for energy improvements, increase in property value, improved return on investment, and many more.