PACE financing programs use authority given to a municipality to offer financing for property owners to fund energy efficiency and renewable energy projects on existing commercial structures. The property owner voluntary agrees to repay the financing through a special assessment. PACE provides financing for these types of improvements over time without requiring the property owner to make a large upfront investment. Eligible renewable energy systems include solar thermal, geothermal, anaerobic digester gas, and thermal storage among others. NYSERDA also has the authority to approve additional renewable energy systems. PACE financing is available in participating municipalities.
