Property Assessed Clean Energy (PACE) is a financing program that promotes energy savings and production programs. Started in Berkeley, the program has spread across California as the ‘going green energy’ financing strategy. How does this work? The homeowner picks an energy conservation or production scheme and the state or city pays upfront costs. The owner then pays this back as a line item on their property tax. The project must be completed by PACE certified contractors aiding local jobs, providing a local economic boost.
How Does the PACE Energy Program & Financing Work?
Items considered are energy efficiency, renewable energy products and water conservation. As the payment is tied to the property taxes, there is no money down, credit checks, fix-rate financing up to 20 years, savings on energy and water bills, rebates and tax credits, and automatic obligation transfer if the property is sold. Financing through PACE is also available not only to the homeowner but for commercial, multifamily complexes and industrial applications. Commercial projects allow for improvements up to 20% of the property’s value.
Eligible PACE Program Items
Energy generation is not limited to solar panels, but fuel cells, micro-turbines, combined heat and power and energy storage. Heating and air conditioning includes geothermal, chillers and air handlers and all AC and furnaces. Windows, cool roofing, doors (exterior) and solar films and insulation. Lighting treatments to manage energy include fixture replacement, IED lighting, sensors for determining occupancy, skylights and building controls. Buildings tend to consume hot water, so solar thermal water heating, high-efficiency toilets, low flow bathroom fixtures, artificial turf vs. grass and plant irrigation controls. The homeowner can install photovoltaic solar panels, thermal pool heaters and other energy conservation or renewable energy alternatives.
Solar Panels & Cool Roofing
Any savings that accrue to the installation of energy conserving material will usually pay for themselves in a short period of time. Any area that receives a substantial amount of average daily sunlight will benefit from either solar energy production or energy radiation/reflection technology. Cool roofing materials reflect light and radiate heat cooling the interior of the home or commercial building. Cool roofing is an inexpensive alternative to living roofs (gardens on the roof) and are relatively inexpensive way to conserve energy. Water heating is next to environmental conditioning and in a home’s energy consumption, accounting for between 14-25% of the energy consumed. Solar water heating is becoming more dominate and can result in up to a 70% reduction in energy reduction in contrast to electric water heating and to a slightly lesser extent on gas water heaters. Any situation requiring direct heating like water heaters, dryers and furnaces are generally efficient if supplied by gas, natural or propane than electrical systems. Solar collectors collect heat from exposure to the sun and directly heat circulating water held in a reservoir, backed by auxiliary electrical or gas heating systems. Some systems are split with separate potable water and heat exchanger and circulation systems.
Solar Panel Consultations, Installation & More in Palm Springs, Palm Desert, La Quinta, Banning, Indio & the Coachella Valley in Riverside County California
PACE Legislation was recently passed in September of 2017, SB 242 and AB 1284, to help ensure that PACE programs continue to work for the good people of California, driving economic growth while protecting our environment. The billions of dollars in PACE financed home improvements have already helped hundreds of residents and business owners in California communities to live more comfortably and efficiently. Contacting a knowledgeable PACE experienced contractor can provide many more avenues to participate in energy and water conservation and renewable energy production and save on utility bills. Abco Design / Absolute Quality Construction can handle all of your solar panel energy and other home improvement needs. Contact us today!
