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PACE in Texas: Businesses could go solar without any upfront costs using new PACE program

 Staff Writer-Dallas Business Journal
Businesses owners, just like homeowners, have a lot to consider before they go solar.

How much will it cost upfront? How long will it take to get a return on investment? What if I sell my building?

A new state program called Property Assessed Clean Energy (PACE) would add the cost of the improvement to the building’s property taxes. The North Central Texas Council of Governments wants to get feedback from cities in the region but so far has only heard from a handful, said Lori Clark, principal air quality planner with the North Central Texas Council of Governments.

Here’s how it works:

The business owner borrows the money from a traditional lender but it’s repaid through an assessment on the property via city or county taxes, said Charlene Heydinger, executive with Keeping PACE in Texas, a 501c6 organization that’s promoting the program.

The project is reviewed by a third party who confirms that the project will pay for itself within the time allotted.

Fees for the administration of the program are worked into the loan so no tax dollars are used, Heydinger said. Read more.