DEL MAR — Property and business owners can more easily finance energy-efficient improvements following a Dec.15 City Council decision to take part in Property Assessed Clean Energy, or PACE, programs.
State law authorizes public agencies to establish special districts that can enter into a voluntary contract with property owners to finance upgrades and repay the loan through property tax bills.
PACE financing can be used for energy- and water-efficient upgrades for everything from low-flush toilets and solar panels to electric vehicle charging infrastructure.
“They’re considered to be a critical tool to help make it feasible for some properties to pursue energy and water efficiency projects, which are increasingly important as cities like Del Mar are charged with establishing climate action plans to reduce greenhouse gas emissions long term and also to reduce water use long term,” Kristen Crane, city manager assistant, said. Read more.