Abstract
Under property-assessed clean energy (PACE) and similar programs, municipal financing districts lend the proceeds of bonds to property owners for financing energy retrofits. Property owners who invest in energy efficiency (EE) measures and small renewable energy (RE) systems then repay these loans over 15-20 years via annual assessments on their property tax bills. States and local governments can use PACE bonds to help property owners finance EE and RE projects. This factsheet outlines the benefits of PACE programs and describes how they can be designed, implemented, and funded. The factsheet also summarizes the benefits and challenges experienced by PACE programs in Boulder County, Colorado; Annapolis, Maryland; Berkeley, California; Sonoma County, California; Palm Desert, California; and Babylon, New York.
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