property assessed clean energy<\/a>\u00a0(PACE)\u2014a public enabled financing structure that provides upfront payment for a solar installation and enables property owners to pay back the funds via property taxes\u2014with a long-term services contract called a power purchase agreement.<\/p>\nThe PACE Lease enables project developers to internalize the benefits of a solar installation\u2019s tax incentives and pass them on to customers as a fixed, low-cost annual payment for energy services over the course of 20 years.\u00a0Using both tax equity financing and a services contract gives businesses a way to mitigate upfront capital costs, limit construction and maintenance risks, and lock in low-cost rates for the solar energy the system creates for years to come.<\/p>\n
Because repayment for the solar system is tied to a line-item on a property tax bill rather than a property owner\u2019s personal or corporate credit, default risks are much lower. Just like it\u2019s easier for a customer to pay for a solar system incrementally if it\u2019s tied to their electric bill, this form of on-bill financing for a company makes it easier for a company to pay and maintain a larger solar system. In addition, because the PACE Lease enables customers to obtain financing on terms traditionally offered only to those with the highest credit quality, the new financing mechanism is a scalable solution that can bring liquidity to the solar market and unlock solar for commercial and industrial properties across the country.<\/p>\n
The PACE Lease has already been used to finance projects in California and Florida and the innovation has earned the company recognition from the International Energy Agency-Renewable Energy Technology Division as one of 2015\u2019s most innovative solutions for expanding renewable energy use throughout the country.<\/p>\n
\n<\/div>\n
<\/p>","protected":false},"excerpt":{"rendered":"
Source:\u00a0www.renewableenergyworld.com Pictured above is De-Meter\u2019s inaugural project for Tiburcio Vasquez Health Center, a 200kW combination rooftop and carport distributed generation installation in San Leandro, CA. Credit: De-Meter. Editor\u2019s note: Property assessed clean energy financing (PACE) is a strong, growing funding option for solar installations. The following iscommentary from the U.S. Department of Energy\u2019s Office of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-2821","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/old.iacoos.kz\/en\/wp-json\/wp\/v2\/posts\/2821"}],"collection":[{"href":"https:\/\/old.iacoos.kz\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/old.iacoos.kz\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/old.iacoos.kz\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/old.iacoos.kz\/en\/wp-json\/wp\/v2\/comments?post=2821"}],"version-history":[{"count":1,"href":"https:\/\/old.iacoos.kz\/en\/wp-json\/wp\/v2\/posts\/2821\/revisions"}],"predecessor-version":[{"id":2823,"href":"https:\/\/old.iacoos.kz\/en\/wp-json\/wp\/v2\/posts\/2821\/revisions\/2823"}],"wp:attachment":[{"href":"https:\/\/old.iacoos.kz\/en\/wp-json\/wp\/v2\/media?parent=2821"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/old.iacoos.kz\/en\/wp-json\/wp\/v2\/categories?post=2821"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/old.iacoos.kz\/en\/wp-json\/wp\/v2\/tags?post=2821"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}