October 30, 2013PACE legislation is enacted in 31 states, and the money has just started to flow.Cities and states across the U.S. have issued over $43 million to more than 180 commercial property-assessed clean energy (PACE) financed projects.
Nearly half of the projects are in either offices or multifamily buildings. Retail and the services sector represent about 10 percent market share each, according to data from PACENow, a nonprofit that promotes PACE programs.
PACE allows investments in energy-efficiency retrofits and distributed renewable generation to be paid back through a tax that is tied to the property, which lowers the risk for both lenders and owners and can potentially open up a far larger swath of the energy efficiency market. Read more.