There has never been a more important time for energy efficiency and water conservation in the United States. With a growing population, increasing fuel and water prices, and the pressing need to reduce greenhouse gas (GHG) emissions in a rapid and low-cost manner, cities and counties are being asked to quickly learn and implement a new way of approaching their community’s use of energy and natural resources.
PACE provides local agencies and property owners the ability to meet common goals to save money and invest in the future. PACE provides cities, counties, and special districts with the ability to designate a district where property owners may enter into a voluntary contractual assessment to finance energy and water efficiency or renewable energy improvements fixed to real property. The liens are then repaid via the property tax bill at an established rate of interest over a specific time period while the costs of the improvements stay with the property should the current owner sell in the future. These groundbreaking legislative changes give cities and counties a powerful tool in helping their community reduce their energy and water usage, lower utility bills, and decrease GHG emissions.
- Cities, counties, and special districts
- Residential, commercial, and industrial properties
- Various energy efficiency, renewable energy, and water conservation improvements fixed to real property
Benefits of PACE
PACE programs allow for the creation of a sustainable green economy by creating local jobs, using local materials, and generating local revenue. While reducing carbon emissions and providing for water conservation, PACE provides immediate energy savings for residents, offers workforce development for the community, and promotes economic recovery.
The federal government is encouraging the creation of PACE programs and is promoting PACE as an approved use of American Recovery and Reinvestment Act of 2009 (ARRA) and Department of Energy (DOE) grant funds. Willdan can assist agencies in locating potential sources of funding for the startup costs of the program. The goal of any PACE program is to be self-sustaining for the long term, and Willdan has the resources and industry partners that can assist agencies in finding their specific solution.