New Jersey PACE (Property Assessed Clean Energy), a new and innovative way for property owners to pay for energy efficiency upgrades, on-site renewable energy projects, and water conservation measures.
Terms and Qualifications:
For specific eligibility measures, please visit:
http://www.newjerseypace.org/services/for-contractors/eligible-measures
Benefits of PACE:
PACE financing has many features that can uniquely solve barriers to the adoption of energy efficiency measures.
- 100% financing requires no up-front cash investment
- Long-term financing (up to 20 years) results in immediate positive cash flow
- No payoff upon sale because PACE assessments (and energy savings) remain with the property
- Assessment costs and savings can be shared with tenants
- PACE can attract a wide range of private investors with low interest rates
- PACE may be treated as off balance sheet financing
- Non-recourse, non-accelerating financing
- PACE programs are local and community members are motivated to engage in outreach and marketing efforts