How PACE Programs Work
What is the legislative mechanism for PACE?
To date, 35 state legislatures and the District of Columbia have adopted PACE legislation. Normally PACE legislation at the state level involves amending statewide laws related to property tax law and municipal finance. After state legislation has passed, PACE programs may be created at the state, county, or municipal level. Once programs are operational, projects can be financed by private financiers like CleanFund. For more information about whether your project is located in a qualifying jurisdiction, please see our PACE Geography Resource.
Is PACE financed by the government?
There are various models for administration of PACE programs. Some programs are administered by public entities that use public funds and ratepayer dollars to finance projects, while others permit private capital providers like CleanFund to provide construction and term financing (or both).
Is there a defined time period for PACE financing?
No, once a state has enabled PACE legislation, it becomes codified in the property tax and assessment law. So long as the legislation is not repealed, and there continue to be interested capital providers, such as CleanFund, PACE financing does not have a defined expiration date. Moreover, unlike traditional government cash grants and rebates, PACE financing leverages private capital and does not come from a finite pool of dollars.
How does CleanFund fit into the PACE ecosystem?
CleanFund is a private capital provider for commercial PACE projects. The Company works closely with Owners of qualifying properties to coordinate with PACE Program Administrators, Contractors, and Mortgage Lenders throughout the transaction approval process taking a project from conception to closing and funding.
How do I find out if PACE is available for your commercial property?
Easy, CleanFund gives you two ways:
- PACE Geography Resource: Search any address to find out if PACE is available for your commercial property. Checking is quick & commitment-free. Let's get your next commercial project funded!
- CleanQuote: An online platform that allows partners and direct owners to get indicative pricing and fill out an application. CleanQuote is a fast and easy tool for indicative pricing.
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