The environmental services department is accepting applications for the “property-assessed clean energy” program, or PACE, which allows residential and commercial property owners to purchase energy- and water-efficiency upgrades with financing that attaches to their property tax bill.

Property owners can apply for the program through one of three PACE providers:

HERO has helped residential property owners nationwide install energy-efficient heating and cooling systems (HVAC), as well as solar power panels and solar thermal systems for heating water.

Residential owners will have to wait until July to apply with CaliforniaFIRST, but commercial property owners can start the process now with the state’s largest PACE program. CaliforniaFIRST uses an open market platform to encourage competitive bidding from financial institutions.

Figtree Financing is strictly commercial, specializing in office, retail, hotel and industrial properties. The company has funded upgrades including HVAC, solar and roofing.

The city council approved San Jose’s participation in PACE in December, joining Berkeley, San Francisco, Menlo Park and other Bay Area municipalities in implementing the program. Besides enhancing property values, the program should benefit the community as a whole, Environmental Services Director Kerrie Romanow said in a release. Read more.